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Agriculture - Business - Commentary Development - Education - Governance History - Investment - Lifestyle/Culture Technology/Science
Mozambique Profile page 87-99
Awakening the African Giant Within January-February 2021
CONTENTS January-February 2021 4
Publisher's Message
Tribute 8
Embrace these 4 Lessons from Dr. Martin Luther King, Jr. to Effectively Lead Today
Business Mozambique Profile 87 Airlink 34
11 13 14 16 17 18 20 22 24
African Fashion is on the Rise Jumia Looks Beyond Profit Target Want to be a Global Entrepreneur? Here’s How Why 2021 Could Be the Best Year For You to Start a Company Sony Music Africa Hires Artist Dev Lead Top Seven Reasons why South Africa is the World’s Preferred Offshoring Destination African Countries are Curbing Imports of Used Cars from Japan to Cut Emissions Small Business Owners, in the Age of Covid, Insights for 2021. Top Business Trends in 2021
National Profile 87 Carbon Capture 46
Development 28 30 32
Great Green Wall 42
34 36 38 41 42 43 44 The Matumbila’s 79 2
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Republic of Mozambique
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Africa’s New Free Trade Agreement Could Mark the Dawn of a New Era Here is the One Thing Most Founders Forget When Launching a Company 7 New Year Strategies to Help Black Entrepreneurs Achieve Growth and Success in 2021 Airlink, Newly Independent, now Africa’s Second-Largest Airline United Airlines’ Big Long-haul Expansion with 5 Routes to Africa + India From Railways to Ports, these Infrastructure Megaprojects are Reshaping Africa Netflix Makes Africa Push with Zimbabwean Billionaire's Appointment to Board Good News for Africa’s Great Green Wall Three 2021 Statistical Thresholds of Interest Africa finds its Voice . . . as President signs Factbook $100 Million Prize for Carbon Capture DAWN
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Amanda Gorman 52
Tribute to Dr. King 8
Historian Van Sertima 84 Technologies
Pandemic-Health 47
WHO in Talks with Pfizer, Moderna on Covid-19 Vaccine Access
Governance 48 50 52
Dozens of Tech Companies Sign ‘Tech for Good Call’ Following French Initiative Africa is Set to Roll Out its Single Passport Here's the Whole Poem 22-Year-Old Amanda Gorman Read at Biden's Inauguration
Investment 54 56 57 58
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African Stock Exchange/Bourse Sub-Saharan Africa Named Riskiest Investment Region due to Violence London Investment Bank Picks Kenyan for Top African Job Meet the Nigerian Entrepreneur who Just Raised $20.5 Million to Help Truck Drivers Manage Their Business Ebony Magazine Purchased by Former NBA Player for $14 Million F5 Networks will Buy Volterra Cloud Computing Startup for $500M Master P & Baron Davis Could Make History as they Position themselves to Acquire Reebok Senegalese R&B Singer Akon Signs JV in Congo to Build Copper-Cobalt Mine
Technology/Science 66
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NASA Picks Astronauts for New Moon
January-February 2021
68 71 72 73
Missions Nigeria’s Fintech Scene Booms 17-Year-Old Wins $400K for Explaining Quantum Tunneling in Science Competition A Teenager from Namibia Invents a “SIMLess” and “Airtime-FreeE” Phone Calendly, the Black Owned Scheduling App, Just Raised $350M, and is Now Valued at Over $3Billion
Lifestyle/Culture 74 76 78 79 80 82
An Audiobooks App will tell Unheard African Stories How One Muslim Woman is Normalizing the Hijab Through Comics Adopted African American Woman finds out She’s a Princess from Sierra Leone A 23-Year Old Created an Animated Series About a Tanzanian Family in America Universal Music Group Announces Strategic Leadership Appointments within Africa The Associated Press Names Naomi Osaka Female Athlete of the Year
History 84
How Did We Come by the Name ‘Africa’? – Is it a Foreign Import?
Resources 100 Events Around the African Continent and the World 101 African Diaspora Shopping Resources
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Publisher's Message
Ricky Muloweni Publisher
“If you can't fly then run, if you can't run then walk, if you can't walk then crawl, but whatever you do you have to keep moving forward.” ― Martin Luther King Jr.
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A HEARTFELT CONGRATULATIONS TO President Biden and Vice President Harris on their Inauguration as President and Vice President of the United States of America. We are excited at the opportunity to work with the Biden-Harris Administration on USA-Africa development programs. Yes, it does feel different and it is surely a New Day for the United States. The Covid-19 pandemic effects on the African continent continues to reveal gaps in public health service capacity since its beginning in March 2020. The first being a rapid exodus of Expatriates of non-Africans decedents from Africa to their countries and continents of origin. The mass exodus resulted in many of the local African programs, industries, and many expert driven projects coming to a complete halt. The pandemic has revealed major cities dependance on food produced in rural towns and villages. Most of the food importation in the early part of the pandemic came to a grinding halt. This food supplies gap was filled by rural/village agriculture producers in the respective countries. As the cities came to a crushing halt the production demand on villages and rural towns increased due to more home bound stomachs and an increased appetite for organic foods. Meanwhile, the big banks did not facilitate delivery system financing even when it was well known that the village agriculture suppliers could use more capital to ramp up their delivery systems. A case has been laid bare for rural towns to negotiate for a win, win deal with the financial institutions in the cities who have forever denied small business loans and financing for expansion to rural farmers. Clearly it was gratifying to see Villages and small towns escape the first wave of the pandemic in part because they were insulated from regular interactions and movement to and from the cities. Alas, the urgent food needs of the cities necessitated more movement from villages to the DAWN
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U.S. President Joseph Biden and Vice President Kamala Harris Oneindia cities inevitably resulting in small town populations getting infected with COVID-19 on the second wave. Further international travel also brought in other strains. Unfortunately, much as it was proven to be easier for the city dwellers to take quick measures to contain the pandemic, much more needed to be done in the rural villages where information and knowledge disparities negated their ability to quickly grasp prevention mechanisms. This calls for major investment in public health education programs in all rural areas of Africa. Moving forward, African countries need to recognize that development for Africa starts from within. This type of development entails that the youth of Africa need to be brought on board to be a part of the knowledge base rather than bringing back the expatriates that left huge vacuums in refineries and other industries, resulting in the industry sector coming to a grinding halt. Train the locals. Local governments and business community need to see this as an opportunity for inhouse human resource development work. The virus has exposed the discrimination that has
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existed for a long time between rich and poor, young and old, male and female. Worse, it has in fact taken advantage of pre-existing inequalities. We believe it is time to change, transform and update pre-existing systems and infrastructures in the African society. Deliberate efforts should start in obvious sectors such as agriculture. The local village and rural farmers filled the gap for all of the city food supplies as such it is time to strengthen the local food production in the rural towns and villages. Villages have proven their capacity to fill the gap of all imported foods that the rich city dwellers did not miss during the pandemic. It is time to finance rural agriculture production lines, logistics and long-term capacity building plans. Finally, health care education is key for rural towns. Local government and religious leaders see page 51
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About the
Africa Business Association The Africa Business Association is an independent international business development organization. We offer access to the latest resources, information, and best practices in advocacy and communications for the African Diaspora and the African entrepreneurs in Africa. We work to help you have access to news and events as starting points for constructive conversations and calls to action. We seek to cut through the froth of the political spin cycle to underlying truths and values. We want to be so focused on progress that together we can provide a credible and constructive generation of Africans that take seriously our previous generations and act upon all their wishes, our hopes and aspirations to make lasting change for all future generations. 6
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Africa Business Association
"DAWN"
PUBLISHER/PRESIDENT Ricky Muloweni
ADVISORY BOARD
Earl 'Skip' Cooper, II, CEO, Black Business Association H.E. Sheila Siwela, Ambassador H.E. Kone L. Tanou, Ambassador
CONTRIBUTING WRITERS Ricky Muloweni
LAYOUT/TYPESETTING Lion Communications
AFRICA BUSINESS ASSOCIATION NEWS 6564 LOISDALE COURT, SUITE 600 Springfield, VA 22150 USA 1-571-278-9441 aba@africabisinessassociation.org dawn@africabusinessassociation.org www.africabusinessassociation.org
Copyright © 2020 by Africa Business Association News All Rights Reserved. The posting of stories, commentaries, reports, documents and links (embedded or otherwise) on this site does not in any way, shape or form, implied or otherwise, necessarily express or suggest endorsement or support of any of such posted material or parts therein.
Image credits: Cover-http://creativafrica.blogspot.com
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In Honor of Dr. Martin L. King, Jr. 1929-1968
The Rev. Dr. Martin Luther King Jr. speaks to peace marchers near the United Nations. Credit: Getty Images
Embrace these 4 Lessons from Dr. Martin Luther King, Jr. to Effectively Lead Today The tough challenges we face today require an elevated level of leadership.
By Sonia Thompson @SONIAETHOMPSON ONE OF THE TRUE marks of transformative leaders is that what we learn from them can transcend time. Every year as I remember the work and life of Dr. Martin Luther King, Jr., I am in awe of how his writings, actions, and the leadership principles with which he lived are still just as relevant today as they were more than fifty years ago. 8
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As we continue to navigate through a time in our history where we deal with threats to our democracy, racial injustice, and vast inequalities across many levels of society, I've seen many leaders frustrated and at times paralyzed about what their role should be in creating positive change. Here are four leadership principles to embrace DAWN
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from Dr. Martin Luther King to guide you in your quest to be a better leader.
1. Embrace the "we" mindset. If we've learned anything from the global pandemic we continue to live through, it's that we are all connected. We are all part of a tightly-woven system, where what happens in one area has an impact on others in another part of the system. And because we are all connected, it behooves us to take a "how can we all thrive" approach, rather than a "how can me and mine thrive." Dr. King talked about this in his Letter from Birmingham Jail to other members of clergy: Moreover, I am cognizant of the interrelatedness of all communities and states. I cannot sit idly by in Atlanta and not be concerned about what happens in Birmingham. Injustice anywhere is a threat to justice everywhere. We are caught in an inescapable network of mutuality, tied in a single garment of destiny. Whatever affects one directly affects all indirectly. As a leader, when you focus your efforts on making sure that everyone thrives, it will change the way you view and tackle problems.
2. Embrace tension. Tension makes a lot of people uncomfortable, myself included. But avoidance of tension keeps us firmly planted within our comfort zone. Unjust systems don't get dismantled, and tough problems don't get solved without some discomfort. Dr. King talked about this as well in his Birmingham letter, when he noted, "I have earnestly worked and preached against violent tension, but there is a type of constructive nonviolent tension that is necessary for growth." When you see systems within your team, your company, or even in society at large that are detrimental to those you serve, lean into the tension that will be required to make positive change. At a minimum, that means speaking up to take a stand against actions you feel are wrong and go against your values. Dr. King spoke of this too when he wrote, "We will have to repent in this generation not merely for the vitriolic words and actions of the bad people but for the appalling silence of the good people."
It is an unfair expectation that any leader should have all the answers, especially as we navigate through uncharted territory filled with complex problems. But that doesn't mean that you shouldn't take the time to educate yourself beyond just a superficial level on matters that impact your team. Here's how Dr. King covered this issue in his Birmingham letter: "Shallow understanding from people of good will is more frustrating than absolute misunderstanding from people of ill will." Prioritize listening, learning, empathizing, and especially unlearning the ways of thinking and operating that aren't rooted in truth and justice. Go deep and wide in your education efforts.
4. Embrace being an extremist. Extremism often has a negative connotation associated with it. But Dr. King points out in his writings that many great leaders were all extremists in their own right. We don't often talk about or remember the accomplishments of people who followed the status quo or deviate only slightly from the norm. It is those who boldly charted a different path and point of view that we admire, comment on, and ironically model behavior after. Dr. King asked his fellow clergy to get involved and support the civil rights movement by asking them to be extremists: So the question is not whether we will be extremist, but what kind of extremists we will be. Will we be extremists for hate, or will we be extremists for love? Will we be extremists for the preservation of injustice, or will we be extremists for the cause of justice? Decide what kind of extremist leader you will be in your quest to make lasting and meaningful change. Extremism looks different on everyone, so take the time to figure out what feels right for you. The most important thing is in deciding to take a clear stand about what you are fighting for. www.inc.com/sonia-thompson/embracethese-4-lessons-from-dr-martin-lutherking-jr-to-effectively-lead-today.html?utm_ medium=40digest.7days3.20210118. carousel&utm_source=email&utm_content=&utm_ campaign=campaign
3. Embrace learning and unlearning. 9
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Business
Naomi Campbell in Lagos during the week of December 6, 2020. Photograph: Roderick Ejuetami
WITH HIGH-STREET BRANDS COLLAPSING and the world wearing sweatpants, 2020 has not been a stellar year for fashion. But at Arise Fashion Week (www.instagram.com/arisefashionweek/?hl=en), in Lagos, Nigeria, which concluded on Saturday, December 12th there were green shoots of hope, said Naomi Campbell. “There’s definitely a few stars here. I’m very impressed. Covid has brought out a lot of creativity in a lot of people.” Campbell flew to Nigeria (www.theguardian.com/ world/nigeria) last week to take part in the African style showcase. “I was going to do it virtually,” she said by phone from Lagos, “and then I thought, you know what? I want to go and bring awareness to their great work. It’s important on many levels, because Arise gives these young designers a platform to be globally recognised, to be embraced by fashion weeks around the world, and really to
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be included.” This year’s event took the socially-distanced format of a talent search. Thirty African designers aged under 30 were selected to show their collections to a virtual audience, with an overall winner chosen by a roster of judges including American artist Kehinde Wiley and South African designer David Tlale. The shortlist included nonbinary sustainable label Lagos Space Programme (www.instagram.com/lagosspaceprogramme/?hl=en) , ultra-chic MmusoMaxwell (www.instagram.com/ mmusomaxwell/?hl=en) and the eventual winner, Kenneth Ize (www.kennethize.net), who showed at Paris fashion week for the first time this year. All received $5,000, while Ize was awarded $100,000 and an extra jolt of publicity in the form of Campbell walking in his show on Saturday evening. Mentoring was also be part of the deal for the
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African Fashion is on the Rise, says Naomi Campbell: ‘And it’s About Time!’ By Hannah MarrioƩ
Models display designs by Weiz Dhurm Franklyn (far left and far right), DNA by Iconic Invanity (second left) and Bibi (third left) during the Arise fashion week in Lagos, Nigeria. Photograph: Sunday Alamba/AP
winner, said Campbell. It was particularly important as the wider world slowly woke up to Africa’s creativity and spending power. “There has, in the past, been the wrong perception about the continent and the creativity that comes out of it,” she said. “Right about now, everyone’s kind of got it, finally – for example, that Nigeria is one of the biggest emerging markets with the under-30s, so everyone is looking in this direction
what-happens-if-humanitys-ranks-start-to-shrink).
But we don’t want Africa to be considered as a trend. “These designers are finally getting the notoriety that they deserve – and they are going to keep their notoriety.” Supporting African designers working in innovative and sustainable ways is just one way to propel fashion towards positive change post see page 12
(www.theguardian.com/world/2020/jul/25/all-the-people11
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Business African Fashion - from page 11
be the new reset, we will give her a proper sendoff.” Otherwise, in lockdown, “I have enjoyed my little cocoon. I’ve tried not to have any expectations – living within one day and then the other day; learning patience, because this is not going to disappear as quickly as we would like it to; and understanding that being alone doesn’t mean you are lonely.” She has also spent time filming her YouTube show, No Filter with Naomi (www.youtube.com/
Covid-19. “People want affordable, sustainable fashion – and that’s what we are trying to do here,” said the model. The notoriously white and privileged fashion business must also be inclusive if it is to reset in a positive way. Campbell has been speaking out on this subject for decades, long before the industry’s recent outpouring of apologies and diversity strategies in the wake of the Black Lives Matter playlist?list=PLO8oLXyVfZIALUMLhFMamAwwLQEiNtC movement. kM), learning to rig her own lights and delving into “It’s kind of embarrassing, in 2020, to finally her impressive contacts book for guests; a recent have all of this happen, to wake up to that. You tete-a-Zoom with Mariah Carey was particularly should have been doing that already – that’s my memorable. While filming, she is as partial to opinion. I have not really taken part in any of waist-up dressing as the rest of the world: “I these discussions because I find them a little bit have really lived in kaftans and sweats. I only get insulting,” said Campbell. dressed when I have to do No Filter, and then I’m “I’ve been pushing this thing for so many years, only dressed from the top up, with my slippers on so now, for me, there is no change. What I’m doing the bottom – happy feet!” is exactly what I was doing before this movement It was on her YouTube channel in July 2019 that started – and I’m going to continue. It’s what I Campbell revealed what now feels like an eerily believe in, basically.” prescient pre-flight hygiene routine, in which she Did Campbell feel these latest pronouncements laboriously wiped every surface of the plane that were significant and real? “We’ll see. If they make might touch her body with anti-bacterial wipes. noise about it, and it’s publicly known, you can hold In March, she took this a step further, flying them to it, can’t you? But I do believe in action and home for the first lockdown wearing a full hazmat not words. Still, I try to keep suit accessorised with a optimistic.” Burberry cape. The cape What was exciting, she has since been donated said, was the global youth to an as yet undisclosed movement. “They have found museum where it will be their voices, and they are presented as a defining speaking out and demanding object of this bizarre year, what they want. And they are but she will fly in hazmat change.” suits for the foreseeable Campbell has had a future, including for the strange, sad year, after the journey home from Lagos: death of her grandmother, to “It’s nice that no one looks whom she was very close. at me like a mad hatter any “This time has been tough for more.” people to grieve together,” www.theguardian.com/ she said, with Covid rules fashion/2020/dec/13/ preventing a significant african-fashion-is-on-thefuneral. “She was so loved. Naomi Campbell with her grandma Ruby rise-says-naomi-campbellOnce we get the vaccine, or Louise Campbell Russell. Photograph: @ and-its-about-time whatever it is that is going to naomi/Instagram 12
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Business
Jumia Looks Beyond Profit Target JUMIA TECHNOLOGIES AG (www.bloomberg.com/ quote/JMIA:US) is looking beyond an immediate target of generating a profit from its pioneering African e-commerce business, laying out longer-term plans to spin off divisions and enter new countries. The question of when the Berlin-based company will become profitable has hung over the group since a high-profile New York listing in 2019. And while Jumia has been careful in recent months not to set itself a deadline, co-Chief Executive Officer Sacha Poignonnec said it’s time to lay the groundwork for the next phase of growth. That will partly focus on Jumia’s division that helps transport goods between buyers and sellers in 11 African countries, including Nigeria, Egypt and Uganda, and the payments business that allows them to settle transactions. The company may eventually look to spin them both off into separate entities, Poignonnec said in an interview. “We created something that does not really exist in Africa, which is an end-to-end logistics partner on the continent,” said Poignonnec. “We have built it from the get-go, so that one day we are in the position to carve it out if we want to.” Jumia was started in Lagos by Frenchmen Poignonnec and Jeremy Hodara in 2012, and began to attract attention due to the entrepreneurs’ ambitious plan to bring e-commerce to a continent with relatively weak internet connections and banking systems, chaotic transport and unreliable addresses. The New York initial public offering at first attracted a surge of interest, but a damning report by short sellers Citron, who alleged fraud, sent the stock into a downward spiral. That started to change earlier this year, when stay-at-home warnings during the Covid-19 pandemic began to paint a more positive picture for e-commerce companies -- even in Africa. Citron said in October its analysts had “learned a lesson” and wouldn’t bet against Jumia’s rally, even as challenges such as slow delivery times remain.
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The stock has surged since, and has increased by more than 500% in the past 12 months. The shares traded 1.4% lower in early New York trading recently, valuing the company at about $3 billion. Jumia has opened its African logistics network to third parties, helping to add volumes and negotiate better pricing on shipping and control costs, Poignonnec said. The company has also benefited from a reluctance so far by industry giants Amazon. com Inc. and Alibaba Group Holding Ltd. to expand significantly on the continent, with Naspers Ltd.’s Takealot one of few similar businesses. “The focus is on reducing losses and controlling costs, and deciding where to allocate our resources,” Poignonnec said. Jumia’s third-quarter operating loss was 28 million euros ($33.9 million), down 49% from the previous year. Jumia exited three African markets last year, but will consider other opportunities in the much longer term including Ethiopia, Poignonnec said. Being pan-African enables investors to get exposure to the continent rather than one country, he said, while partners such as wireless carrier MTN Group Ltd. and financial group Mastercard Inc. -- which both invested in Jumia before the IPO -- can work with the group across several markets. Other growth options include gaming and video streaming, said the CEO. “No one questions the relevance of e-commerce as a business -- and the opportunity in Africa is massive,” said Poignonnec. “Seven years ago, people were questioning how we are even going to do this, now the only question remains on profitability.” www.bloomberg.com/news/articles/2020-12-10/jumialooks-beyond-profit-target-with-plan-to-spin-off-logistics Image credit: Fin24 DAWN
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Business
Want to be a Global Entrepreneur? Here’s How You Can Do It By Kathy Pretz MANY STARTUPS THAT WANT to have a global presence often struggle with how to build one. With high-speed Internet, high-quality voice and video communication services, and more funding opportunities for startups, it’s never been easier to tap into the global market, says venture advisor Chenyang Xu. “Today’s world is increasingly interconnected,” says Xu, an IEEE Fellow (www.ieee.org/membership/ fellows/index.html). “In the last five years, I think the [entrepreneurship] activities around the globe have only intensified as many forms of accelerators, incubation investment entities, angel investors, venture capitalists—you name it—have become global and mainstream. The other big, driving force is that many nations have adopted growing entrepreneurship as a national strategy.” Startup hubs have sprung up in many countries, he notes. Boston, Tel Aviv, New York City, and Silicon Valley are no longer the only viable places to launch your company or find talented people. “A new generation of technology entrepreneurs are emerging around the globe,” he says. “There will still be entrepreneurs who focus on serving the local market, but I think this new generation of global technology entrepreneurs is going to be a major force to shape the future of the economy and innovation. They will significantly transform how people live, work, and study elsewhere. “Becoming a global technology entrepreneur is increasingly common, but it’s not easy. To succeed and seize the immense opportunities requires acquiring a new mindset and new skills and contacts.” Here’s his advice on how to succeed in the global market.
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Understand the culture of the country you want to operate in and how technology can help, Xu says. “Culture is at the core of everything,” he says, “and no amount of business experience will help you succeed. Become immersed in the region’s business constraints and regulations, he advises. To help you with that, hire locals. They will understand these issues and be key to building businesses and partnerships, he says.
THINK GLOBAL Consider setting up your company to be global from the start, Xu says. Begin by picking founding partners that are in the locations you want to be in. Select people to sit on your board and advisory board who understand how things work in that region, the challenges your company might face, how fundraising is handled, and what the talent pool is. Your directors and advisors should come from different industries and different parts of the world. “I believe global startups should be multilocal,” Xu says. Multilocal companies operate locally in more than one region of the world. That could mean having offices in multiple locations—which can add complexity to managing people, especially if it’s a small team. It can be expensive to lease offices when you’re just starting out, especially in an area such as Silicon Valley. Instead, consider using coworking places. Nearly every large city has some. “They make having an office in different locations more affordable and scalable as you add more DAWN
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staff,” Xu says. Also, don’t feel the need locate to the popular tech hubs because you think that’s where all the good talent is. Xu says you can find solid performers in just about any major city. But, he says, you don’t always need to have an office in the country in which you operate. During the COVID-19 pandemic, people have learned that remote working can be effective. Employees now collaborate via Zoom, Microsoft Teams, and other Web conferencing tools. “Remote working and remote commuting have become the new norm,” Xu says, “and I think this new behavior will persist even when the pandemic ends.”
MORE FUNDING AVAILABLE Several accelerators have undergone a global expansion in the past few years and now have offices around the world. They include Founders Space (www.foundersspace.com), Plug and Play (www.plugandplaytechcenter.com), Startupbootcamp (www.startupbootcamp.org), Techstars (www.techstars. com), and Y Combinator (www.ycombinator.com). Xu notes that countries are setting up development offices around the world to help fund their citizens’ ventures. German Accelerator (www.germanaccelerator.com), a venture backed by Germany’s government, helps startups operate in Boston, New York City, Silicon Valley, 15
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Singapore, and elsewhere. Through Innovation Centre Denmark (https://usa.um.dk/.../innovationcenter-denmark), the government in Copenhagen is helping Danish companies break into new markets including in Boston, Munich, and Seoul.
IDENTIFY GLOBAL NEEDS Consider solving problems that have a global impact, Xu says. “While you might start off solving a problem in your region, think about whether the solution could be used in other parts of the world,” he says. Zipline (www.flyzipline.com), which uses drones to distribute medical products, is one example. Founded in 2014, the company is based in Silicon Valley. The startup—which designs, builds, and operates its own small drone aircraft—started by delivering medical supplies from its distribution centers in Ghana and Rwanda. The company has since expanded its operations to India, the Philippines, and the United States. “They now have a valuation of more than US $1 billion,” Xu says, “and through venture funding have raised over $200 million. This is really a remarkable model [of global entrepreneurship]. I didn’t think it was possible 10 years ago that you could impact the world, help these developing countries with new technology, and still [make a profit] during the startup phase of a company.” Another example is Brex (www.brex.com), a promising financial-services company tailored for startups. Brex uses artificial intelligence to assess the credit risk of early-stage startups. The founders had set up financial-services companies in Brazil. After gaining experience there and seeing some success, they moved to San Francisco in 2017 to launch Brex. It is one of the fastest-growing payment systems for startups. Last year Forbes reported that Brex had raised $315 million in funding and was valued at $2.6 billion. “If you can solve the problems that matter both locally and globally, the solution can actually help you accelerate your [startup] more quickly,” Xu says.” https://spectrum.ieee.org/the-institute/ieeemember-news/want-to-be-a-global-entrepreneurheres-how-you-can-do-it Image credit: aiesec.hu DAWN
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Business
Why 2021 Could Be the Best Year For You to Start a Company By Kelly Wing, CEO/Founder at Ohwabisabi Media
NOW THAT 2020 HAS encouraged us to embrace the fact that so many things are out of our control, we’re able to see more clearly what has been working in the world, and what hasn’t. We also have more time to put our energy toward areas of our lives that are within our control. I launched my company Ohwabisabi Media (https://ohwabisabimedia.com) in the midst of the pandemic with one thing in mind — to amplify the voices, through media, of conscious leaders who ought to be heard during these unprecedented and challenging times. It is during times like this when a new wave is created — not only in how business is done, but also in leadership. During the 1957 to 1958 recession, the first Hyatt hotel opened. Microsoft was founded during the oil embargo recession of 1973 to 1975. The Great Recession from 2007 to 2009 saw the creation of several startups like Uber as well as the popular vacation rental marketplace Airbnb. If you’ve been wondering whether or not now is the best time to start a company, or if you’ve already started to dip your toes into entrepreneurship but are second-guessing your decision, here are 3 reasons why you should trust your instincts and go all in.
virtual assistant work, coaching, or becoming a freelance writer, designer or developer. E-commerce has spiked by nearly 40% in the wake of Covid-19. If you think about how your own consumption and purchasing behaviors have changed over the last few years, it’s easier to spot trends in where we are heading in the world of consumption and business. If you think about what solutions you wish you had, that aren’t currently being met, chances are there are others looking for the same solutions.
More time spent being introspective has helped us home in on our unique gifts and strengths
As we began to spend more time in our homes, we had more time to do what we loved. For many of us, this meant cooking, writing, speaking, and creating in ways that are unique to our own genius. We so often doubt ourselves and what we are good at — to the point where it stops us from taking the next step toward our highest desires. We believe that our gifts are not unique gifts. We believe our talents come easily to everyone, when in reality, you’re incredibly gifted. While some people may be good at your talents or able to learn them quickly, they may The consumption of online content is not necessarily enjoy it. When you enjoy it, your higher than ever, making it a great time passion and energy shines through your work. to start a company Work becomes effortless and enjoyable when Consumers' ever-increasing problems mean you’re living in true alignment with your soul and they're seeking more solutions than ever. It’s now heart's desires. become easier and more accessible for everyday A recession can expand the available people to start businesses such as e-commerce,
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Business
Sony Music Africa Hires Artist Dev Lead By Chris Eggertsen
SONY MUSIC ENTERTAINMENT AFRICA has enlisted Christine “Seven” Mosha to lead marketing and artist development for the East Africa region, effective immediately. From her home base of Tanzania, Mosha will build out the company’s roster of local talent and amplify its international repertoire and existing catalog across the region. She will report to Sony Music Africa managing director Sean Watson. A 15-year veteran of the African entertainment industry, Mosha has worked closely with Sony Music Africa for the last decade in her role at Rockstar 4000 Music Entertainment, an independent pan-African music company and content, digital and events The pandemic forced millions of people out of their jobs. If those people don’t decide to start their own companies, they’ll be looking to join those who do, putting their experience and expertise where it’s most valued. Not only are we helping those in need of financial relief during challenging times, we are connecting those same people with missions and new business ideas that are truly life-changing.
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production network. During her tenure there, she has overseen music publishing, record deals and content licensing in partnership with Sony Music Africa, including work on the campaign for the Fifa World Cup 2010, which was held in South Africa. In 2017, Mosha launched her own independent record label and talent management company, Rockstar Africa, whose clients have included East African artists such as Lady Jaydee, Ray C, TID and Rose Muhando. She kicked off her career in 2006 as a morning radio presenter, promoter and media marketing guru at Tanzania media conglomerate Clouds Media Group and also worked in A&R at MTV in Africa. www.msn.com/en-us/music/news/executiveturntable-sony-atv-names-digital-prezsony-music-africa-hires-artist-dev-lead/arBB1c2O0x?ocid=windirect Image credit: kbc.co.ke If you’re hesitant about starting a business during this time, look for the reasons why it will work, instead of why it won’t — because what we focus on grows. The world of online business is the new normal, and many successful leaders, businesses, and companies are creating during times of turmoil. www.entrepreneur.com/article/359260 Image credit: Atlanta Blackstar DAWN
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Business
Top Seven Reasons why South Africa is the World’s Preferred Offshoring Destination By Sable International (www.SABLEINTERNATIONAL.com)
SOUTH AFRICA HAS BEEN poised to become the next global powerhouse in the BPO industry for several years now, having been named “Offshoring Destination of the Year” in both 2016 and 2018. While the country’s strong government support and business incentives have lured companies such as BT, British Gas and Amazon, there are several other benefits South Africa can offer over alternative offshore destinations. 1. COST In this day and age, all companies need to be mindful of saving costs and taking care of their bottom line. While South Africa continues to have its economic challenges, the weakening Rand presents a favourable exchange rate for global companies. Labour costs are much lower, as more industrialised countries in Europe and North America have higher salary rates in comparison. 18
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Furthermore, the cost of living is relatively low. It is estimated that the cost of living in Johannesburg is 56% lower than in London, whereas Cape Town and Durban are respectively 62% and 67% lower than London. In a competitive economic climate, markets such as South Africa that offer lower costs are becoming increasingly attractive options for cost-conscious companies. 2. SKILLS South Africa’s unemployment rate currently sits at 30.8%. The country’s BPO industry, as such, provides a low barrier to employment. It is an attractive option for a high number of young, ambitious job-seekers eager to get ahead in their careers. South Africans are known for their industrious work ethic, which is appealing to BPO service providers. This high availability of quality talent has been a key driver of success, and global companies are leveraging South Africa for delivery of complex DAWN
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work, as a result. Today, companies are provided with access to professionals available in a number of crucial business-related industries, such as financial services, legal process services, IT outsourcing, procurement services and multi-channel customer experience. 3. INFRASTRUCTURE In terms of physical infrastructure, the quality of buildings and roads in major cities such as Cape Town is equivalent to that of Western Europe. A critical factor of South Africa’s status as a preferred outsourcing destination is the continued development of its extensive domestic transportation support and SEACOM fibre-optic powered telecommunications network. Modernised information and communications infrastructure and the growing adoption of nextgen technology have resulted in the country’s commendable ascent on the Ease-of-DoingBusiness index. The nation is now able to provide everything from cloud-based services to advanced analytics at a competitive cost to business. 4. TIME DIFFERENCE South Africa overlaps multiple time zones. This time zone affinity makes it a preferred choice for European countries looking to offer services during work hours and allows for better follow-up support. And while Europe certainly favours South Africa for its time zone compatibility, the country’s capacity for round-the-clock quality service at significantly reduced costs appeals to all parts of the world. In fact, both large and small offshore clients in Australia and the United States are grabbing the opportunity of utilising South African workforces in their night time or “downtime” to service their client base. This work typically encompassed customer support, but it is evolving to include customer experience management, such as upskilling, retention, chats and social media interaction, among others. 5. LANGUAGE The country is blessed with a rich diversity of linguistic traditions, but English is the de facto language of business and government. In fact,
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English is even used in parliamentary and state proceedings. The ubiquity of English makes international communication a breeze. There is also typically a level of training done for accent neutralisation in BPOs, but training is not a necessity in South Africa, as language similarities and a similar accent with the UK mitigates the process. 6. CULTURE South Africa has long been a favoured tourist hotspot thanks to its stunning geography, historical significance, stable climate and wildlife. This has contributed to a national character that is serviceand sales-oriented. In general, South Africans tend to be resilient and empathetic, which makes them committed to work and well-suited to the needs of international business customers. South Africa also has a global outlook, with many of its citizens having studied or worked abroad, especially within the UK, and share many cultural references. This is why organisations from native Englishspeaking markets such as the UK, USA and Australia make up a large majority of South Africa’s contact centre clientele. 7. QUALITY South Africans are resourceful and entrepreneurial, and generally thrive on solving business problems rather than producing work for the sake of it. They are usually willing to give input and challenge thinking and do not need detailed instructions to complete simple tasks. South Africa has also historically been very close to the top of the World Economic Forum’s list of countries that provide the highest level of auditing and reporting standards. As the European Union is such a close business partner of many South African companies, South Africa’s data regulations are closely aligned with GDPR, and there is a widespread acknowledgement in the government and business community that any data protection regulations will have to closely reflect those of their trading partners. www.thesouthafrican.com/news/finance/topseven-reasons-why-south-africa-is-the-worldspreferred-offshoring-destination Image credit: AdobeStock DAWN
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Business
African Countries are Curbing Imports of Used Cars from Japan to Cut Emissions By Tawanda Karombo
ZIMBABWE HAS BECOME THE latest African country to make a move to curb hazardous emissions from old vehicles imported from Japan and to make it mandatory for all imported vehicles to be screened for radiation contamination as more African countries seek to reduce environmental contamination from imported pre-owned cars. Importation of cheap secondhand vehicles from Japan is big business across many African countries whose citizens cannot afford new ones. The United Nations Environment Program (UNEP) said in an October report that Africa accounts for about 40% of all vehicles exported from major automobile manufacturing hubs such as Japan, Europe and the US. Zimbabwe’s authorities are now screening imported pre-owned vehicles for radiation at a cost of $10 and a further $50 for “de-contamination”. This follows a Dec. 8 directive from the Radiation Protection Authority of Zimbabwe that said “all vehicles imported into Zimbabwe from countries that experienced nuclear incidents (Japan)” have to be inspected for radiation contamination. Neighboring Zambia has already made a move on this, with its Radiation Protection Authority screening about 46,185 imported vehicles, mostly from Japan, in 2019. Kenya has also introduced curbs on radiation contamination and emissions from older vehicles after directing that all vehicles aged five years or older be tested for radiation. The East African country additionally restricts imports of used vehicles that are over eight years old. Botswana, which has no age restriction on imported vehicles, is still prioritizing revenue
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collection from pre-owned vehicle dealerships, with the revenue authority moving to act against syndicates “using Botswana to buy and register the cars then take them to Mozambique and South Africa”. South Africa, which has stricter emissions control policies, does not allow older vehicles imported from Japan to be driven on its roads, even when transiting to regional destinations like Zimbabwe, Malawi, Mozambique and Zambia. With southern and eastern Africa using mostly right-hand steering wheel cars, importers of used cars tend to favor Japan, which uses right-hand steering and is home to some of the most popular car models driven on the continent. As Africa accounts for the highest number of annual global imports of used cars, the continent is particularly vulnerable to a worsening air pollution problem. Recent research estimates fossil fuel emissions from power plants and vehicles alone will result in nearly 50,000 deaths per year by 2030 with annual emissions of sulfur dioxide and nitrogen oxides projected to double by 2030, compared to 2012 levels. Vehicle emissions are a key source of particulate matter in several of Africa’s largest cities. The UNEP report meanwhile notes “pollutant and climate emissions” and high “energy consumption” as “key concerns” arising out of the
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to control this by curbing the age of vehicles that can be imported and also screening them for radiation contamination in light of the 2011 Fukushima nuclear accident. Although there are more African countries that are trying to limit emissions from old imported preowned vehicles, the UNEP report discloses that other African countries are still lagging or have curbs that have higher age limits such as Uganda which in 2019 imposed limits on importation of vehicles that are as old as 15 years. Rwanda, on the other hand, “has no age limit for used vehicle imports”. The UNEP report says “average fuel consumption and CO2 emissions” are higher in such African countries growing importation of old vehicles into Africa, mostly from Japan. This has ignited worries by environmentalists that exporters of high carbon emitting used cars vehicles are dumping the automobiles, condemned in their home countries, in Africa. As such, governments in Africa are now seeking 21
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www.ctmobi.com/articles/841295/african-countriesare-curbing-imports-of-used-cars-from-japan-to-cutemissions Original story: https://qz.com/africa/1943938/ africa-curbs-imports-of-used-cars-from-japan-to-cutemissions/ Image credit: qz.com, kfgo.com
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Business
Small Business Owners, in the Age of Covid, You Need to Reimagine Your Business Model. Insights for 2021. By Bernhard Schroeder
THERE IS A LOT being written right now on what small businesses need to do to survive the pandemic. Tips on marketing, social media and digital e-commerce and so on. While that is fine, you might need to completely reimagine your business from both a strategy and business model point of view. It might require a complete mindset shift on what products or services you provided before Covid to what customers need now. Let me give you some examples on how other firms are completely readjusting or pivoting their products, services and ultimately, their business model. Texas Roadhouse. This chain of dine in restaurants had to rethink their business model when Covid hit and they did just that. Their thinking went from: “You visit our restaurant to dine on our grilled steaks” to selling take home steak grilling kits where the customers grills their own steak or perhaps stops by to pick up their meals. Because, what do customers want? A good steak. So, they pivoted to giving the customers what they wanted. Sales have recovered nicely. Walks. This tour-based company was hit hard by the travel restrictions. Where they would book local in person tours all over the world before Covid, now they had to reimagine their business model to offer the same service but in a safe innovative way. Today, they offer tours to world popular destinations where you book a tour from the safety of your home and then “walk” with the tour guide who is live and walking in Paris or Rome, giving you the cultural history and visual dynamics of a real tour. Brookfield Properties. Okay, so you own a lot of 22
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malls across the United States. Mall traffic is down because of the coronavirus, but Brookfield is at least m a k i n g money from the empty parking lots. The company signed a deal with entertainment company Kilburn Live to use the lots as drive-in theaters in at least five cities, providing much-needed public entertainment options in a safe manner while traditional movie theaters remain shuttered. It may be a parking lot today but perhaps a film venue tomorrow. Mr. Holmes Bakehouse. At the start of the coronavirus lockdown in California, Mr. Holmes Bakehouse founder Aaron Caddel was trying to figure out how to stay in business and keep his staff employed. Within the space of 72 hours, his bakeries had lost all their wholesale customers – around $3 million in business. However, he also noticed that the interest in home baking was sky-rocketing, which was causing shortages in ingredients such as yeast and flour. In response, he decided to pivot his entire business to start supplying home baking kits. Although he had no experience in e-commerce, he did have a large warehouse, a large Instagram following and a DAWN
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commercial supply chain. He turned all of this over to creating home baking kits. Ideal. In the face of the pandemic what do you do if you own brick and mortar jewelry stores? In the case of Ideal they converted their business model almost overnight from a traditional, bricksand-mortar-based shop, to an e-commerce model that uses a growing trend, live streaming. Ideal dubbed the initiative, “Thousand People, Thousand Stores.” The company’s in-store sales staff have become live broadcasters, with each one managing their own live-streamed “store” as a type of franchise. Ideal has partnered with a retail software provider to build a mini-platform within the popular WeChat app. By using the new platform as a virtual warehouse, Ideal’s sales associates are able to share the company’s warehouse inventory nationwide. To appeal to the younger demographic who shop online, the company has also offered a new range of lower cost pieces designed to attract customers with less disposable income. 23
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So, as this pandemic continues to play out you need to conduct the following analysis and mindset shift in your small business. • It’s not about what you did but what you can do. • Understand the benefit of your products and services and shift the way you deliver them to your customers. • Pay attention to the trends caused by Covid and see if you can leverage them. • Review your local two-mile area and see if the customer wants/needs something no one is providing – can you provide it? • Look into your network of small business peers. Is there someone you can partner with where the combination of your products or services provides customers with a unique solution? Small businesses provide about 50% of the employment jobs in the United States (and the world). Do what you can to reimagine your business and stay afloat or even thrive as we need you. www.forbes.com/sites/ bernhardschroeder/2020/12/04/small-businessowners-in-the-age-of-covid-you-need-toreimagine-your-business-model-insights-for2021/?sh=2888e6217c19 Image credit Chartered Institute of Management Accountants:
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Business
Top Business Trends in 2021 PHILEXPORT NEWS AND FEATURES
E-COMMERCE, REMOTE WORK AND alternative payments are some of the business trends that will dominate in 2021. On the heels of 2020, one of the most harrowing years in history, small businesses welcome the new year with hopes for better operating conditions and a return to some form of normalcy and predictability with the rollout of Covid-19 vaccines. To help small firms prepare for what lies ahead, economists and business analysts have come up with a list of trends that enterprises must be aware of to aid them in planning and decision making. The US Small Business Administration (SBA) forecasts that businesses will continue to prioritize e-commerce. While e-commerce was already growing before the pandemic, a report by IBM showed that the shift away from physical stores to digital shopping has sped up by roughly five years. “To prepare for this shift in consumer spending, fine-tune your small business’s e-commerce presence in 2021. Create a seamless e-commerce experience for your customers by making your site mobile-friendly,” SBA advises. The proliferation of alternative payment options in 2021 and beyond is also expected. Heading into the new year, small firms should explore touchless payment, including online payments with curbside pickup, said SBA.
Remote work will likewise continue to persist. During the pandemic, many small and medium enterprises (SMEs) shifted to part-time or full-time remote work schedules in response to restrictions. Surveys show small to medium-sized business owners plan to continue to offer remote work options in the long term. This also means there will be a need to 24
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increase investment in additional technology and software solutions going forward to ensure employees can telework. The SBA also predicted that virtual service offerings will continue to be in high demand. It noted that the pandemic has led to increased demand for certain business types, particularly those related to technology and virtual health and fitness. These include cybersecurity, at-home fitness, food delivery, gaming, home improvement and telemedicine businesses.
Automation, cutting-edge tech Technology will also become mainstream. According to D&V Philippines, an accounting and financial service provider based in the Philippines, technological solutions will further revolutionize operations. It said digital platforms will be helpful for both corporations and SMEs, especially as most workforces are now working from home. “Aside from the automation of our manual processes, leveraging the cutting-edge technology available in the market provides you a new way of looking at processed information,” it said. “The cloud, Internet of things, Artificial Intelligence (AI), big data and analytics, when harnessed properly, can pave the way for useful insights you can utilize in making sound business decisions.” DAWN
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Reinventing business models is also going to be a major trend. D&V urged businesses to check their organizational models to ensure these adapt to the c h a n g e s brought by the “new normal.” “If your former b u s i n e s s model didn’t work during the pandemic p h a s e , c o n s i d e r
revamping it into a foolproof system that will be optimal even [in] the face of inopportune times,” it said. Consumer convenience will remain a gold standard. The pre-pandemic days saw the SMEs introducing convenience as an incentive, but after the pandemic, the concept of convenience has shifted from an “added value” to a “necessity.” 25
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“Incorporating convenience in your regular operations greatly sets you apart from the competition as consumers now eye this as an indispensable asset in delivering service anytime, anywhere,” said D&V.
Consolidations Meanwhile, Goh Puay Guan, an analytics professor in Singapore, predicted that there will be more consolidations this year as struggling smaller companies become targets for acquisition. SMEs seeking to survive could work together to gain economies of scale, said Goh. “The use of shared spaces and cloud-based apps are already ways in which shared services are helping companies make their cost structure more flexible. This also creates opportunities for companies which use subscription-based business models,” he said. He also foresees the imbalance between supply and demand to continue. The pandemic has overturned the usual business planning assumptions as seen from the continued uncertainty and impermanence. Goh observed how 2020 saw freight rates shoot up and how the rebound in shipments in the second half of 2020 has led to capacity shortages and long waiting times. The need for vaccines to be distributed globally as fast as possible also adds a temporary surge on sourcing, manufacturing and logistics. “We should expect to see supply chain bullwhip effects in fluctuating prices and supply, as companies continue to balance between reduction of costs, and addition of resources to capture sales,” he said. / https://ph.news.yahoo.com/top-businesstrends-2021-133500832.html Image credit: payprotecwestcoast.com
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Export-Imp of the Unite
sub-S
Ex-Im Bank Finances
Opportunity in sub-Sarahan Africa The Export-Import Bank of the United States (Ex-Im Bank) provides U.S. exporters and their international buyers with the financing tools they need to successfully buy U.S. products and services. Ex-Im Bank support protects against foreign political and commercial risk, and gives U.S. exporters the ability to offer competitive financing to their buyers through export credit insurance and loan guarantees.
African Buyers: Buy More U.S. Goods and Services with Competitive Financing The Bank supports many industries for both private- and public-sectors. In particular, the agency provides loan guarantees to lenders that offer sub-Sarahan African buyers with competitive financing to purchase U.S. capital goods and services (such as trucks, construction equipment, laundry equipment, food processing machinery, kitchen equipment and engineering or legal fees). This access to capital typically includes longer repayment terms and lower costs of financing for the buyer. Long-term guarantees are available for major projects, large capital goods and/or project-
related services such as power generation facilities, or refinery projects. Ex-Im Bank also offers credit insurance to U.S. exporters and lenders against the political and commercial risks of a foreign buyer defaulting on payment. This policy thereby allows an U.S. exporter to extend credit terms to its buyer. The seller – a U.S. firm – needs to provide Ex-Im Bank with information on the creditworthiness of the buyer and the U.S. content of the product(s). As one can expect, the Bank’s credit standards depend on the amount being financed and the length of time involved.
Success Story
Ghana National Fire Service Ghana
In 2010, Ghana National Fire Service (GNFS) purchased 121 modern fire fighting vehicles and related equipment from Florida-based Project Development International (PDI). This transaction succeeded with the backing of an Ex-Im Bank $41 million loan guarantee with eight year repayment terms. The credit is secured by the full faith and credit of the Republic of Ghana through its Ministry of Finance and Economic Planning. PDI was hired for their expertise in procurement and project management while Wisconsin’s Pierce Manufacturing Inc. was responsible for manufacturing the vehicles.
l Short-Term
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Export credit insurance enables U.S. exporters to extend U.S. dollar credit directly to African buyers. The insurance supports the sale of U.S. goods and services, including raw materials, semimanufactured, and finished goods. Of note, the application must come from a U.S. exporter.
Benefits: Open account credit is an attractive substitute to letters of credit and bank financing Lower interest charges, as credit is often arranged directly through the U.S. exporter or a lender Available for purchases of bulk commodities, consumer goods, spare parts, etc.
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Coscharis Motors Limite Nigeria
International Buyers of U.S. Goods and Services
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Medical, Environmental and Transportation Security Initiatives Ex-Im Bank provides enhanced support for medical equipment exports, exports that benefit the environment and exports related to international transportation security. Benefits include extended repayment terms (up to 18 years for renewableenergy and water projects) and coverage of local costs for up to 30 percent of the U.S. contract value.
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With Ex-Im’s guarantee, African buyers of U.S. goods and services are able to obtain attractive financing terms. This is critical for U.S. companies to achieve export success in the African marketplace.
Benefits:
Success Story
These currencies have been added to the list of major pre-approved currencies for inclusion in Ex-Im Bank’s Foreign Currency Guarantee Program. African companies can now arrange denominated loans guaranteed by Ex-Im Bank, which means African buyers and U.S. exporters should find it easier to arrange transactions in Africa.
Extended repayment terms depend on the project but could be up to 12 years for conventional power and up to 18 years for renewableenergy power Available in U.S. dollar and some foreign currencies to include the
Used and Refurbished Equipment Guarantees
Structured and Project Finance
Ex-Im Bank will extend financing to support U.S. exports of equipment that has been previously owned or placed into service. Ex-Im Bank support for used equipment is subject to certain criteria that can be found on Ex-Im Bank’s Web site at http://www.exim.gov.
Ex-Im Bank offers a range of financing solutions for African customers. Project (limitedrecourse) and structured financing are two options that offer maximum flexibility for project sponsors in natural resource and infrastructure sectors. For major transactions with significant equity, project financing allows Ex-Im Bank to lend to newly created companies with the project’s future cash flows as our source of repayment. Through structured finance, Ex-Im Bank can consider existing African company borrowers based on their creditworthiness as reflected on their balance sheet and additional sources of collateral or security enhancements.
Aircraft Finance Ex-Im Bank supports African buyers of U.S. new and used commercial and general aviation aircraft through loan guarantees and insurance for both large and small commercial aircraft. Ex-Im Bank can also finance spare parts, ground equipment, training costs and transaction expenses.
South Africa’s Transnet, Limited South Africa Ex-Im Bank approved a Rand demoninated loan guarantee in excess of $100 million as part of the sale of ten fully-assembled GE Model C30ACi locomotives and U.S.-manufactured components for high-value locomotive kits. These were shipped from GE’s Erie, Pa. manufacturing facility to TRE in South Africa. Ex-Im Bank developed a customized, tailor-made financing solution that was designed specifically to meet the financing needs of Transnet and provide financing for both the work performed by GE in the United States and for TRE in South Africa.
EXPORT-IMPORT BANK OF THE UNITED STATES
811 Vermont Avenue, N.W., Washington, DC 20571
For more information, contact Benjamin S. Todd, Business Development Officer, at 202.565.3916 or ben.todd@exim.gov; or Rick Angiuoni, Business Development Officer, at 202.565.3903 or rick.angiuoni@exim.gov. Visit http://www.exim.gov, and follow us on http://www.twitter.com/eximbankus Africa E-mail: eximAfrica@exim.gov BRO-AFR-05 April 24, 2012
South African Rand and CFA Franc Negotiable interest rates with fixed interest-rate options Tailored principal repayment profiles available
ed
Success Story
Limited in Lagos has greatly expanded their Bank insurance policy offered by ABRO Industries, small business exporter of automotive and This policy allows the U.S. exporter to offer a credit cked by Ex-Im Bank, thus negating the need of the h in advance. This relationship started modestly in now in excess of $10 million.
International Buyers of U.S. Goods and Services
Development
Africa’s New Free Trade Agreement Could Mark the Dawn of a New Era By Chris Hattingh
THE AFRICAN CONTINENTAL FREE TRADE AREA (AFCFTA) (https://au.int/en/cfta) came into force on 1 January, 2021. Once it becomes fully implemented and operational by 2030, the AfCFTA could be the world’s biggest fully-realized free-trade zone by area. The bloc has a potential market of 1.3 billion people and a combined gross domestic product of $2.5 trillion. This moment should be celebrated as the AfCFTA could portend a new era of African openness, co-operation, trade, progress and innovation. The momentum of this new trade area thereof should be used to push African governments even further in the direction of free trade. Whenever a nation restricts economic freedoms and civil liberties, humanity suffers. The ease with which people can trade (from the simplest good and service, to the most complicated) with 28
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both their immediate neighbors, and people from all over the globe, is a good indicator of a given government’s view of economic freedom. When countries have more barriers to trade, including arbitrary regulations, widespread corruption, and myriad tariffs, we find a generally lower quality of life. Over time, the AfCFTA will aim to eliminate import tariffs on 97% of the goods traded on the continent itself, while also reducing non-tariff barriers. Tariffs serve to discourage not just the physical movement of goods across borders, but also act as a psychological barrier to the exchange of ideas. They also prevent the flow of crucial goods and services in the case of an emergency. In 2020 alone, tariffs and other levies made the movement of COVID-19-fighting equipment and medicines far slower and more expensive than it otherwise DAWN
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would have been. To grow, supply chains (of all types) require an environment of robust property rights, underpinned by the rule of law – the AfCFTA can encourage such an environment across the continent. According to the African Export-Import Bank, the AfCFTA could boost intra-African trade to 22% of total trade, up from 14.5% in 2019. If African countries are to step up the maturing of their industries and wider economies, they need more goods to flow – and the added expertise and insights of various businesspeople and manufacturers will also increase once it is easier for them to move between different countries. According to Alexander C. R. Hammond, “when African states trade with one another, the goods traded are almost three times more likely to be higher-valued manufactured products, when compared to the goods that leave the continent.” At the time of writing, all but one of the 55 African Union nations have signed to join the area, and more than half have ratified the accord. Through implementing the AfCFTA swiftly and effectively, the continent could set itself apart as a prime destination for investment and innovation. In South Africa, policies such as expropriation without compensation (EWC), National Health Insurance (NHI), and further bailouts for failed state-owned enterprises – all examples of “state-led development and growth” – should be abandoned. The market, not the state, is the only proper engine for transformative growth. That South Africa can now be embedded in, and hopefully take the lead on, the increased opportunities provided by the AfCFTA, can also have the added benefit of dissuading the government from adopting yet more destructive, growth-inhibiting policies. In Open: The Story of Human Progress, Johan Norberg writes (www.amazon.com/Open-StoryProgress-Johan-Norberg/dp/1786497182/ref=as_li_ss_ tl), “My argument is that under open institutions
people will solve more problems than they create, no matter their personality traits, and it will increase the chance that the paths of people with different traits cross, and that their thoughts and work can cross-fertilize.” With its immense human potential, no longer should Africa be held back by unnecessary,
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antiquated barriers. After the ravages of COVID-19 and governmentimposed lockdowns (the number of people unemployed in South Africa is now more than 11 million), many countries will be tempted to turn inward, to limit their interactions with neighbours and people – but nothing could be worse. For any noteworthy economic recovery (never mind meaningful growth) to occur, the world needs more trade, not less. The damage caused by the most recent curtailment of economic freedom – the COVID-19 government lockdowns – cannot be underestimated. The World Bank (www.worldbank. org/en/topic/poverty/overview#:~:text=The%20global%20 extreme%20poverty%20rate,%245.50%20a%20day%20 in%202017.) projected that the number of people
in extreme poverty would increase by up to 115 million, which would mean a total between 703 and 729 million. No amount of state stimulus will generate the kind of economic growth needed to lift people out of poverty. Indeed, you cannot stimulate an economy that is not allowed to operate in the first place. Only more economic freedom, through avenues such as trade, can actualize people’s economic potential. Africa’s history is one marked by exploitation; exploitation by European powers, and exploitation by politicians and bureaucrats who, since independence, have implemented policies of everincreasing government control. Misguided—indeed, immoral—economic policies that undermine freedom have real, negative consequences, especially for middle- and lower-income people. As mentioned above, the combined GDP of Africa is estimated at $2.5 trillion, barely higher than Apple’s $2.2 trillion market capitalization. That one company (albeit one that has created immense value) can have almost the same level of economic evaluation as nearly an entire continent, serves to indicate just how much Africa’s economic potential has been suppressed. The symbolism of the AfCFTA itself indicates a new era for Africa, and the potential thereof cannot be underestimated. https://fee.org/articles/africa-s-new-free-tradeagreement-could-mark-the-dawn-of-a-new-era/ Image credit: Pixabay DAWN
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Development
Great Startup Idea. Solid Team. Growing Marketplace. But Here is the One Thing Most Founders Forget When Launching a Company By Bernhard Schroeder
EVERY ENTREPRENEUR OR SENIOR executive with a solution to a problem can be brimming with passion. They’ve got a startup idea and a vision that inspires them to wake up every morning and push through the difficult times so that their dream can become a reality. However, if you’re like most people, there’s a chance you have a hard time channeling this passion and energy to help you move forward with the speed and decisiveness you wish you could. Taking time to outline your core values will help you create this focus. It’ll help you look away from what’s not important and concentrate on what is. Your business can go many places, but it won’t go far if you don’t even know what defines it. And core values is what defines a companies culture. Strong core values can drive smart hiring practices, reduce turnover and absenteeism, increase productivity and quality of work, help guide decision-making, improve customer relationships, and boost employee morale. The startup phase is the best time to think about core values because it’s much easier to make changes early on and ensure that every aspect of your business is in alignment as you grow. Determining your company’s core values will have a big impact on the type of organization your startup becomes, Always Be Learning. Building a culture so choose wisely. Your ultimate success depends that values continuous education means your on it. Let’s look at some core values for you to consider employees will grow with your organization and deliver better results. Consider offering ways as you think about launching your startup. Happiness/Passion. Passion for what you to enable continuous employee training and do and happiness in the workplace lead to more professional development. Innovation/Creativity. Innovation is probably productive employees, fewer workplace problems, and a higher quality of work. Only recruit people the value that will give your company the biggest who are upbeat about life, want to go on the competitive advantage. When employees are encouraged to innovate, they’ll bring breakthrough company mission and are all about the team. 30
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corners. The values will be valueless and the culture will disintegrate. Respect. This is a simple word but one that is extremely important to the culture. Establish this value to allow for open communication up and down the organization with complete disregard to pecking order, politics or protocol. Respecting people will always allow you do the right thing. By the way, a byproduct of respect is trust. And it’s really hard to build a successful company if people don’t trust each other. Excellent Customer Service. Your customers’ satisfaction will make or break your business, so a customer-first focus should be at the center of everything you do. You can’t possibly have any kind of company and not want to deliver excellent customer service. Customer loyalty should be a measurable goal of your business that you measure constantly. Giving Back. When your company is doing something to benefit others, your employees feel good about working with you, and your customers feel good about buying your products. Whether you support a cause, or are eco-friendly and sustainable, it’s important that you give back in a way that allows your customers to embrace you as solutions to the table. Recruit people with a growth a good company. mindset and encourage them to take qualified Statistically, most startups fail. Hedge your risks, even if they fail. bets and craft a powerful mission that everyone Transparent and Honest. Being honest and can believe in with a strong set of values to help transparent, both internally and externally, is a you get there. tenet that is extremely important. If anything about your company isn’t genuine, from your business partnerships to your marketing campaigns, your customers will be able to tell. Worse, your employees will know and they will start to cut 31
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www.forbes.com/sites/bernhardschroeder/2020/12/21/ great-startup-idea-solid-team-growing-marketplacebut-here-is-the-one-thing-most-founders-forget-whenlaunching-a-company Image credit: markboeder.com
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Development
7 New Year Strategies to Help Black Entrepreneurs Achieve Growth and Success in 2021 By Jeffrey McKinney
WITH THE ARRIVAL OF 2021, it brings a refreshing spirit to help Americans grow and change for the better. Of course, with COVID-19 in place last year, no one could have seen how individuals and small business owners could have navigated those unpredictable waters. But with last year gone, entrepreneurs can build on steps their peers just started taking or are now planning to apply to fuel growth this year. Those efforts include revamping business models, offering goods and services that meet customers’ demands, and staying resilient to flourish despite the ongoing pandemic. Yet, one thing appears to remain certain: The way customers deal with businesses and how those firms interact with customers will most likely be different than in previous years. So here are some resolutions small business owners may do well to consider and implement this time.
1. Stay focused on making sure customers feel safe and healthy Many people are still justifiably worried about leaving home as the pandemic keeps surges. Apply actions that put the safety of customers and employees first. That may look like implementing contactless payment processes, boosting sanitation protocols, requiring face coverings, and enforcing safe distancing. A new study by Washington University revealed that consumer spending rose an average of 5% in counties requiring masks. The largest gains were in nonessential businesses like restaurants and bars. Some 62% of consumers swear they would stop shopping at a retailer they didn’t believe was
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taking their health and safety seriously, an Ipsos survey showed. So steps used to show your compassion for consumer safety can pay nice dividends.
2. Be open-minded to change and new concepts As indicated earlier, many small businesses that pivoted last year are now using those concepts this year. Many have been forced to courtesy of the pandemic economy. Be aware of new insights you can pick up from great business leaders talking about new strategies they are applying, read blogs and online materials and tune into podcasts. Do not miss tips that could be pivotal for your firm.
3. Launch or upgrade your website if you have not already done so This might sound like a no-brainer, but amazingly, this is among the most popular resolutions for this year. That perhaps because websites along with social media are vital ways small businesses stay in touch with customers. A strong website can offer many perks, including boost your online and offline exposure and increase customer engagement. Upgrade your website to be user compatible with other mobile devices so customers can place orders. Some customers use text message alerts to keep them updated about your business. Perhaps consider adding PayPal or Venmo payment options to begin selling items quickly. An online presence can potentially bring you unexpected business.
4. Gain new customers with social media marketing DAWN
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This media channel could be very lucrative, allowing you to potentially reach many new people you have not connected with before. Click here to view some benefits of social media marketing.
afraid to let customers know of what precautions or adjustments you are taking to help them feel safer
5. Create a referral program Word of mouth has long been and remains one of the best ways to boost sales and attract customers without breaking the bank to do so. Word of mouth promotion is the most trusted of all forms of marketing, with 86% of customers believing in those type of reviews and recommendations. Visit here to get some tips on how to set up such a program to help grow your business.
As an entrepreneur, you probably know better than most running a business is not a cakewalk. So, don’t do it solely by linking with support networks to assist you. Another reason to consider this option is COVID-19 and social distancing mandates have erased many networking, speaking, and business events. Several groups, including SCORE, provide virtual and in-person mentorships. Professional business owners can also network with peers via such channels as Facebook Groups or Mastermind Groups. For instance, this site offers a roster of Mastermind Groups. Do not forget to check local Chamber of Commerce, business, or trade groups to see if they have virtual offerings you can benefit from.
6. Remain in touch with customers, especially faithful ones Now with local laws changing almost daily because of the pandemic, it is imperative to keep customers aware of what your business is doing operationally and safety-wise. Let customers know by social media or other means if you are doing such things as requiring reservations, offering only delivery or curbside service, and changing hours to cope with local laws or staffing issues. Do not be
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7. Hook up with a support network
www.blackenterprise.com/7-new-year-strategiesto-help-black-entrepreneurs-achieve-growth-andsuccess-in-2021 Image credit: iStock.com/Prostock-Studio
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Development
Airlink, Newly Independent, now
Airlink’s 92-seat Embraer 190s form the backbone of its operation, with just under half of all seats in the southern hemisphere summer.
SOUTH AFRICA’S AIRLINK BECAME an independent carrier in late 2020 as its tie with South African Airways was severed. The regional airline now has almost 1.2 million seats this winter with three-quarters deployed domestically, OAG schedules data shows. Airlink is now the third-largest carrier within Africa by seats – rising to second when flights are considered. This is obviously from its low-capacity aircraft. Airlink has six types of aircraft – from Embraer 190 to Cessna Caravan – indicating the breadth of its network. 34
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It also suggests the degree to which it attempts to right-size, where infrastructure allows, although it is a very complex mixture.
Thick routes rule for Airlink Airlink has 63 routes in the southern hemisphere summer, with its top route – Cape Town to Johannesburg – having nearly one-fifth of its capacity. Deploying Embraer 190s on South Africa’s – and the continent’s – top market, located some 1,271 kilometres apart, is decidedly sub-optimal, at least in normal times.
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w Africa’s Second-Largest Airline It primarily competes directly with B737-800s from various other carriers. However, that is perhaps less significant now given that South African Airways isn’t operating. Airlink’s core network revolves around thick or reasonably thick routes, both domestically and internationally. It has three international routes – all from Johannesburg – within its top-10. Johannesburg, Africa’s busiest airport, has over eight in ten of the operator’s seats this summer, although it is expanding elsewhere. Cape Town to Harare will start on 1 February. It’ll
be one of 16 routes from the airport and one of six international. Over 46,000 P2P round-trip passengers flew Cape Town – Harare in 2019, booking data indicates. RwandAir’s three-weekly service, en route to/from Kigali, uses B737-700 and -800s. It’ll compete directly with Airlink’s once-daily, Embraer 170-operated service. www.anna.aero/2021/01/15/airlink-south-africasindependent-regional-now-africas-second-largestairline/
Airlink has 63 routes this summer. Source: OAG Mapper. 35
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Development
United Airlines’ Big Long-haul Expansion with 5 Routes to Africa + India; P2P Demand of 524,000 UNITED AIRLINES WILL BEGIN three routes to Africa and two to India, together with two domestic services to Hawaii. Of these seven, only three are new for the carrier: Chicago O’Hare – Delhi, Newark – Johannesburg, and San Francisco – Bangalore. Its coming Johannesburg service follows Newark
– Cape Town, which it began last December on a three-weekly, winter-seasonal basis. Chicago – Kona, Newark – Kahului, and Washington Dulles to both Accra and Lagos, meanwhile, are returning. However, unlike before, when Accra and Lagos were linked with a five-weekly service from Dulles,
Source: OAG Schedules Analyser. 36
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they will now each be served non-stop. Combined, United’s five Africa and India routes have estimated P2P demand alone – before all the connectivity over its hubs – of 524,000: • San Francisco – Bangalore: 137,000 • Newark – Johannesburg: 134,000 • Chicago – Delhi: 125,000 • Washington Dulles – Accra: 72,000 • Dulles – Lagos: 56,000 US – Africa passed 2.2 million seats last year The US – Africa non-stop and one-stop through service market had over 2.2 million seats last year, up by 17% YOY. But except for last year, capacity has been more or less flat in the past decade. Interestingly, United’s new countries – Ghana, Nigeria, South Africa – had 98% of all US – Africa seats in 2011. Last year, however, this had reduced to just 51%. This is mainly from the strong growth of Ethiopian Airlines. What this does not show is that actual capacity to these countries has reduced from a peak of nearly 1.8 million to just over 1.1 million last year. This coming winter it is expected that 21 routes will operate between the two. As of now, the top-
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five routes, by seat capacity, will be: • Ethiopian Airlines: Washington Dulles – Addis Ababa • South African: New York JFK – Johannesburg • EgyptAir: JFK – Cairo • Royal Air Maroc: JFK – Casablanca • South African: Dulles – Accra – Johannesburg Ethiopian Airlines, Royal Air Maroc, South African, Delta, and EgyptAir are expected to have the most seats this winter in that order. Delta serves Lagos from both Atlanta and New York JFK, and Accra from Atlanta. Its Atlanta – Johannesburg will route Atlanta – Johannesburg – Cape Town – Atlanta from this December. United Airlines previously served Accra from Dulles using B767-300ERs. It began in June 2010 with Lagos being tagged on the following year. Accra ended in 2012, while Lagos operated between 2011 and 2016, initially from Dulles via Accra and then non-stop from Houston. www.anna.aero/2020/09/10/united-airlines-big-longhaul-expansion-with-5-routes-to-africa-india-p2pdemand-of-524000 Publication date: September 2020
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Development
From Railways to Ports, these Infrastructure Megaprojects are Reshaping Africa By Rebecca Cairns, CNN
ACROSS THE AFRICAN CONTINENT, innovative transport systems and smart cities are being developed to boost economies and increase trade opportunities.
Lekki Deep Sea Port Project worldstagegroup.com
Dangote Petroleum Refinery nsenergybusiness.com While Nigeria is one of Africa's most oil-rich countries, its refineries are only operating at a small fraction of their capacity. It's not just bad for the economy — fuel shortages mean Nigeria suffers frequent power cuts. But Africa's richest man, Aliko Dangote, is building an oil refinery he says will solve Nigeria's fuel problem. Covering 2,635 hectares, the new Dangote Petroleum Refinery will be the largest in Africa, with capacity to process 650,000 barrels a day. Dangote hopes to create a market for Nigerian crude oil worth $11 billion annually. The refinery is expected to open this year (www.theafricareport.com/29913/nigeriasdangote-still-expects-refinery-to-be-running-early-2021) . MAN Energy Solutions
deepest in sub-Saharan Africa — is intended to increase Nigeria's commercial operations across West Africa and its global trading potential. It is designed to handle four million metric tons of dry goods a year. The Chinese Development Bank has loaned $629 million to the project and China Harbour Engineering Company is providing $221 million in equity funding for the port, which is expected to generate revenue of $361 billion and create up to 170,000 new jobs. The port is due to be completed by 2022 (https://lekkiport.com/projectstatus): work on the breakwater phase is underway.
Projects like Lekki Deep Sea Port in Lagos aim to reposition African cities as internationally competitive business centers. The multipurpose port — which will be the Egypt's New Administrative Capital Al Bawaba News 38
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Just 28 miles (45 kilometers) east of Cairo, Egypt is constructing a New Administrative Capital. The $58 billion project, started in 2015, is designed to be a hub for government and the finance industry. Egypt hopes to entice some of the 20 million residents of its current capital, Cairo, to relocate to the new city, where there is space for 6.5 million people. The city will feature numerous skyscrapers, including Africa's soon-to-be tallest building, the Iconic Tower. Recently, a $4 billion, 100-kilometer monorail project (www. globalconstructionreview.com/news/hillinternational-project-manage-egyptiancapital/), connecting Cairo and the new city, was announced. The Egyptian government says it will conduct trial operations in the city in the first half of 2021.
Grand Ethiopian Renaissance Dam worldstagegroup.com
The ambitious Grand Ethiopian Renaissance Dam (GERD) (www.cnn.com/2020/07/21/africa/ethiopianile-river-dam-afr-intl/index.html) is one of Africa's biggest infrastructure projects. Built on the Blue Nile River near Ethiopia's border with Sudan, the $5 billion dam will generate 6,000 megawatts of electricity annually. The project aims to turn Ethiopia into Africa's biggest hydroelectric exporter. But the dam has been controversial from the getgo. The Blue Nile is one of two sources for the River Nile, providing 85% of the water that flows north through Sudan and Egypt, to the Mediterranean. Colonial-era agreements mean Egypt and Sudan, which rely on the river for their water supply, have 39
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maintained control over the river in the past -but Ethiopia's dam threatens this. Negotiations between Ethiopia, Sudan and Egypt are ongoing, but an agreement is yet to be reached.
Kenya Standard Gauge Railway kenyaengineer.co.ke
Designed to connect Kenya's main cities, and eventually neighboring nations, the Kenya Standard Gauge Railway (https://edition.cnn. com/2017/05/31/africa/kenya-nairobi-railway/index.html) is the largest infrastructure project undertaken by Kenya since it gained independence in 1963. Construction of the first 300-mile (482 kilometer) section between the coastal city of Mombasa and Kenya's capital, Nairobi, was completed in 2017. Traveling at an average speed of 74 miles (120 kilometers) per hour, the train journey between the two cities now takes just four hours instead of 12. The $3.8 billion project was built by Chinese construction company China Road and Bridge Corporation (CRBC), and 90% funded by China Exim Bank.
Kenya Standard Gauge Railway Lonely Planet see page 40
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Development from page 39
Phase two of the Standard Gauge Railway project, connecting Nairobi and Naivasha, a town popular with tourists for its proximity to Hell's Gate National Park and Mount Longonot National Park, was opened to passengers in 2019. The $1.5 billion project was also built by CRBC and financed by Exim Bank. Extensions to the current line are still under consideration for the coming years, with proposals for lines connecting with Ethiopia, Uganda and South Sudan, as well as further lines within Kenya (https://edition.cnn. com/2019/10/16/africa/kenya-launches-chinese-railwayline/index.html).
Walvis Bay Port From Namport cesses five million tons of cargo every year. A $300 million, five-year project has seen the port more than double its capacity for container units and reduce waiting times for ships. Its new container terminal, built on 40 hectares of reclaimed land, was announced to be fully operational in September 2020. From Namport
of-walvis-bay/522/)
Lagos-Kano Standard Gauge Railway Nairaland Another ambitious railway project, the LagosKano Standard Gauge Railway, in Nigeria, will span 1,678 miles (2,700 kilometers) from the port city of Lagos, to the northern city of Kano, near the border with Niger. Intended to boost the economy, the railway will carry both passengers and freight. Built by China Civil Engineering Construction Company (CCECC) and partially funded by Exim Bank, the project is being completed in multiple stages: the first section between Abuja and Kaduna was completed in 2016, while the second Lagos to Ibadan section began trials in December 2020 (www.railjournal.com/africa/nigeria-begins-trials-onlagos-ibadan-line/). As Namibia's largest commercial port, Walvis Bay (www.namport.com.na/ports/welcome-to-the-port-
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Egypt's Suez Canal Trade Arabia Egypt's Suez Canal underwent an $8 billion expansion in 2015 to increase trading potential, and it has paid off, with a 4.7% rise in revenue. However, further expansion might be on the cards: in September 2020, Hala el Said, Minister of Planning and Economic Development, said that $1.1 billion has been allocated to upgrades on the Suez Canal project in 2021. As one of the country's major sources of income, increasing the capacity of the canal will be vital for economic growth in the coming decade. Proposals include four tunnels beneath the canal, and equipment upgrades. www.cnn.com/2021/01/14/africa/gallery/africainfrastructure-projects-hnk-spc-intl/index.html DAWN
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Development
Netflix Makes Africa Push with Zimbabwean Billionaire's Appointment to Board By Shivdeep Dhaliwal, Benzinga Staff Writer
NETFLIX INC. IS AIMING to boost its presence in Africa with the appointment of Zimbabwean billionaire Strive Masiyiwa to its board. What Happened: Masiyiwa has become the first African to join Netflix’s board. The company also has two European directors. The newly-appointed executive has connections and experience in Africa as the founder and chairman of Econet Global, a company that offers telecommunications and mobile payments services, according to Bloomberg. In Africa, Netflix has a couple of million customers, even though the continent has a population of more than a billion, according to Digital TV Research. Netflix Chairman and Co-Chief Executive Officer Reed Hastings said in a statement that Masiyiwa's "entrepreneurship and vision in building businesses across Africa and beyond will bring valuable insights and experience to our board as we work to improve and serve more members all around the world.”
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Why It Matters: The subscription video-ondemand (SVOD) firm, which has more than 190 million subscribers, is reportedly planning to grow in regions beyond the United States and Europe for its next spurt of growth. Last month, Netflix’s Vice President for Business Development in Asia Pacific Tony Zameczkowski said the company was “very bullish” on its prospects in the region. Zameczkowski said the California-based SVOD giant sees “significant potential” in South Korea, India, and Indonesia. The company faces intense competition from rivals such as Amazon.com Inc., Walt Disney Company, and Tencent Holdings Ltd. in the world’s most populous continent. www.benzinga.com/news/20/12/18828676/ netflix-makes-africa-push-with-appointment-ofzimbabwean-billionaire-to-board Image Source: soccer24.co.zw
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Development
Good News for Africa’s Great Green Wall By UN Environment Programme
Women planting in the Sahel. Pho AT THE RECENT ONE PLANET SUMMIT for Biodiversity, the Great Green Wall for the Sahel and Sahara Initiative (GGW) received $14 billion in additional funding pledges for the next ten years. This financial support will scale up efforts to restore degraded land, create green jobs, strengthen resilience and protect biodiversity. Among the financiers are the Government of France, the African Development Bank and the World Bank. Started in 2007, the 8000 kilometre-long Great Green Wall is an African-led initiative, spanning 11 countries, to combat land degradation, desertification and drought. Climate change is having a crippling impact on the Sahel, happening one and a half times faster than the global average. The region experiences droughts every two years, instead of the typical 10-year cycle. To compound its challenges, the Sahel is also dogged by poverty, rapid population growth, high unemployment rates, food shortages and insecurity. The Great Green wall is growing vegetation and
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restoring a band of land from Senegal to Djibouti to help boost food security, improve health, and create thousands of new jobs and income opportunities for the communities living there. Focus will be laid on sustainable land use, indigenous farming techniques and green jobs. The initiative has already planted billions of trees and supported tens of thousands of local households. “The year 2021 marks the beginning of the Decade for Ecosystem Restoration – and the Great Green Wall is an inspiring example of ecosystem restoration in action. This initiative alone won’t transform the Sahel’s fortunes overnight, but it is rapidly becoming a green growth corridor that is bringing investment, boosting food security, creating jobs and sowing the seeds of peace,” said Susan Gardner, Director of UNEP’s Ecosystems Division. UNEP, the Food and Agriculture Organization of the UN and the UN Convention to Combat Desertification (UNCCD) are collaborating with 10 other UN agencies and Development Banks to coordinate the action in support of the GGW. “The mobilization of this additional funding will contribute to the achievement of the Great Green Wall goals,” said Mohamed Cheikh El-Ghazouani, President of Mauritania and the Chair of Conference of Heads of State and Government of the Pan African Agency for the Green Great Wall. “Pandemic recovery is our chance to change
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G
Development
Three 2021 Statistical Thresholds of Interest By Dan Kopf WHAT WILL 2021 BRING for the global W e economy? Projections from the United Nations ((UN), International Monetary Fund (IMF), a and World Trade Organization (WTO) say the ffollowing o three things just might happen.
oto by greatgreenwall.org
c o u r s e , ” said António Guterres, UN SecretaryGeneral. “With smart policies and the right investments, we can chart a path that… r e v i v e s economies and builds resilience. Innovations Graphic of the planet with the Great in energy Green Wall drawn on it. Photo by and transport greatgreenwall.org can steer a sustainable recovery. Nature-based solutions – such as Africa’s Great Green Wall – are especially promising.” Co-organized by France, the United Nations and World Bank, the One Planet Summit (www. oneplanetsummit.fr/en) brought together world leaders to commit to action to protect and restore biodiversity. www.unenvironment.org/news-and-stories/story/ good-news-africas-great-green-wallImage credit: ocw.mit.edu
In 2021, the median human turn 31 - The world iis s slowly getting older. Longer lifespans combined w with falling fertility rates mean the world’s typical p person gets a little older each year. In 2021, the g global median is expected to hit 31 for the first ttime i in recorded history. An older world means a h higher share of global spending on health care, a and less on child care. In 2021, Tanzania’s population will surpass It Italy’s - For a good example of how the w world’s population is shifting, look no further tthan h Tanzania and Italy. From 1995 to 2020, T Tanzania’s population more than doubled from 3 30 million to 60 million people. In 2021, the UN p projects that Tanzania will become the world’s 2 23rd most populous country, surpassing Italy, w where the population has begun to decline due tto o low birth rates. These countries represent the b broader trend of Africa’s population increasing ffastest a among the world’s continents, while E Europe’s remains stagnant. In 2021, global GDP may hit $90 trillion Global GDP is set to hit $90 trillion, according tto o estimates from the IMF. The IMF projects that a after a 4.4% dip in 2020, the global economy will g grow by 5.2% in inflation-adjusted terms. The $ $90 trillion is not adjusted for inflation, but is still a useful number for putting economic metrics in perspective. For example, Microsoft had a $1.6 p valuation at the time of writing, meaning it ttrillion r is worth almost 1.8% of all of the money that will be spent next year. b https://finance.yahoo.com/news/five-statisticalthresholds-probably-breached-110059777.html Image credit: ocw.mit.edu
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Development
Africa finds its Voice . . . as President signs Factbook By Joseph Madzimure, Senior Reporter
President Mnangagwa signs the Africa Factbook to be distributed to African Union heads of states and government at State House in Harare yesterday. — Picture: Tawanda Mudimu
PRESIDENT MNANGAGWA YESTERDAY (JANUARY 18, 2021) signed copies of The Africa Factbook and accompanying letters, which will be distributed to the heads of state and government of the other 54 African Union countries. The Africa Factbook is Africa’s first ever publication tells the African story from an Afrocentric perspective. It is the continent’s first ever coordinated response to more than 500 years of misinformation and often disinformation against Africa by outsiders and more recently by the global media empires. Zimbabwe's President Mnangagwa was accompanied to the signing ceremony at State House by the Deputy Chief Secretary responsible for Communication in the Office of the President and Cabinet, Mr George Charamba. 44
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The factbook is meant to become a regional educational tool that enhances knowledge and the pride of African people. The book also captures the liberation struggle story, its trials, tribulations and triumphs. It was put up together in line with the African Union’s Pan African Vision Agenda 2063 and Aspiration Five (https://au.int/en/agenda2063/aspirations) which seeks to enhance the strong cultural identity, common heritage, values and ethics of Africa. The Africa Factbook was conceived after the African Union Commission, which was then chaired by Dr. Nkosazana Zuma, recommended that Zimbabwe leads the way in coming up with such a book after she had been impressed by the country’s celebrated African Book of Records (www. DAWN
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facebook.com/BookOfAfricanRecords).
The AU, after sending a delegation to assess the capacity of Zimbabwe to produce the book, declared and adopted the Africa Factbook as a reference educational tool for African nations. Speaking at the signing ceremony of the Africa Factbook to heads of state and government of African Union countries, President Mnangagwa said the Africa Factbook was conceived as a project to support Africa’s Agenda 2063 and specifically Aspiration Five which seeks to enhance the strong cultural identity, common heritage, values and ethics of Africa. “Today I have signed copies of the Africa Factbook which Zimbabwe had the honour and privilege to host at conceptual stage. As you may recall, we launched this ground-breaking book on September 9, last year jointly with my brother and outgoing chair of the African Union President Cyril Ramaphosa,” said President Mnangagwa. He further said the first edition has been produced under the theme “Busting the Myths”. “The myth that black people of Africa have no history. The myth that the Great Zimbabwe walls were not built by us indigenous local people. The myth that Africans have never invented or discovered anything. All these and other myths are solidly busted by scientific facts, implacable sources and astute scholarship,” he said. The African Union theme for 2021 is “Arts, Culture and Heritage: Levers for Building the Africa We Want”. “I therefore dispatch this book and the accompanying comradely letters to my fellow Heads of State and Government within the African Union as Zimbabwe’s contribution to this Pan-African theme that seeks to revive our spirit and pride in our
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great history and bright future,” he said. The African Fact Book also demonstrates how Africans have always been peace-loving people who always sought human progress and neighbourly coexistence. For more than 500 years, Africans have relied on outsiders, usually their former colonisers, to tell them their own stories. The effect has been what historians and educators call a debilitating distortion of African history. With this in mind, the Institute of African Knowledge (Instak www.facebook.com/The-Institutefor-African-Knowledge-335662143310431), with the
African Union, set about compiling the first edition of The Africa Fact Book, which was appropriately themed “Busting the Myths”. The African Fact Book shows some of the origins of the world’s inventions and discoveries that came from Africa. The book shows that the pyramids were built by the continent’s forefathers while the Dogons of Mali, experts of astronomy, space and stars, existed hundreds of years before Nicolaus Copernicus. The book was compiled by the Institute of African Knowledge with the support of the Office of the President and Cabinet, the Research Council of Zimbabwe, six ministries, the private sector and regional and international organisations. Instak chief executive officer Ambassador Kwame Muzawazi said the distribution of the book will start in a few weeks.” www.herald.co.zw/africa-finds-its-voice-aspresident-signs-factbook DAWN
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Development
Elon Musk Offers $100 Million Prize for Carbon Capture Technologies By Charlie Osborne for Between the Lines ELON MUSK INTENDS TO OFFER $100 million to a successful project resulting in viable carbon capture technologies. Musk, the CEO of Tesla & SpaceX and an entrepreneur who briefly took over from Amazon's Jeff Bezos as the world's richest person earlier this month, made the pledge in a tweet on A direct air capture machine (or at least an artist’s rendering). Carbon Thursday. Engineering The concrete details of the "prize" for the "best" offering are due to be announced made in terms of technology designed to contribute next week. to the effort. "Am donating $100M towards a prize for best The concept, as explored by Vox (www.vox.com/ carbon capture technology," Musk said, which energy-and-environment /2019/9/4/20829431/climatesuggests that more than this amount may be on change-carbon-capture-utilization-sequestration-ccu-ccs), offer, overall. could involve burying carbon in saline aquifers or Carbon capture is a concept focused on air scrubbing, but for technologies in this area to the capture of carbon dioxide emissions be developed, potential profit in the eyes of the produced by manufacturing, vehicles, and investor needs to be a factor. As such, carbon food production, among other industries. capture technology could focus on carbon capture A human population of billions, deforestation, and utilization (CCU), in which carbon dioxide is the destruction of natural habitats, a lack of care used, in some way, to develop products or services. toward our oceans, and the transformation of land The creation of effective carbon capture for housing and the rearing of livestock have all technologies -- alongside environment recovery contributed to the problem of global warming. initiatives -- could help countries meet their Global warming is expected to create climate obligations in the Paris Agreement, an international refugees, diminish water and food supplies, treaty on fighting climate change. trigger extreme weather events, and cause sea Hours after becoming America's latest president, levels to rise. Joe Biden signed an executive order returning the Rolling back and attempting to tackle the damage US to the accord, after former US President Trump we have already caused to our environment are withdrew the United States from the agreement in ways to try and reduce the levels of carbon in the 2017. atmosphere, and to date, little progress has been www.zdnet.com/article/musk-offers-100-millionprize-for-carbon-capture-technologies 46
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Pandemic-Health
WHO in Talks with Pfizer, Moderna on Covid-19 Vaccine Access
THE WORLD HEALTH ORGANISATION (WHO) said on Tuesday (Dec 15) it is in discussions with Pfizer and Moderna about possibly including their high-tech coronavirus vaccines among early jabs for poor countries at affordable prices. The WHO-backed Covax facility, created to ensure equitable access to Covid-19 vaccines around the world as they become available, is aiming to provide some two billion doses by the end of next year. It has already secured hundreds of millions of doses of vaccine candidates being developed by AstraZeneca, Novavax and Sanofi-GSK. WHO senior advisor Bruce Aylward said the organisation was looking at a range of other jabs, as well as the current frontrunners. He said WHO was "in conversations" with Pfizer and Moderna about whether their products could be part of "early roll-out of vaccines". But, he stressed, "we also need to make sure that they are at prices that are appropriate for the populations we are trying to serve and the countries we are trying to help." US pharmaceutical giant Pfizer has, along with German BioNTech, created the first coronavirus jab to receive regulatory approval in a number of Western countries. Vaccination campaigns have already begun in Britain and the United States. The Moderna vaccine is expected to quickly receive approvals as well.
Both vaccines use cutting-edge technology and have been shown in Phase III trials to be highly effective - and they are expected to be expensive. But Aylward hailed public comments from Pfizer chief Albert Bourla in which he talked about cutting prices for low-income countries. "He has said we are committed to making sure that our products see global use and we recognise that requires pricing it at the right level to be able to make that work," Aylward said. "So there is a strong commitment from Pfizer out there to be able to do that." Covax wanted to have a diverse portfolio of vaccines to offer and would evaluate "any product out there with demonstrated efficacy, safety, quality", he added. The vaccines developed by China and Russia could also be evaluated for inclusion "if they meet the standards for efficacy and safety", he said. A year into the pandemic, which has claimed more than 1.6 million lives worldwide, Aylward hailed the positive vaccine news over the past month. "There is light at the end of the tunnel," he said. But while there was "a bright light at the end of it, getting brighter, it is a long tunnel." www.straitstimes.com/world/europe/who-in-talks-withpfizer-moderna-on-covid-19-vaccine-access
Light, but a long tunnel
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Image credit: timeslive.co.za
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Governance
Dozens of Tech Companies Sign ‘Tech for Good Call’ Following French Initiative By Romain Dillet
Charles Platiau / AFP / Getty Images
A COUPLE OF YEARS ago, French President Emmanuel Macron initiated the Tech for Good Summit by inviting 50 tech CEOs to discuss the challenges in the tech industry and make some announcements. Usually, tech CEOs meet ahead of Viva Technology (https://vivatechnology.com), a tech event in Paris. This year, Viva Technology had to be canceled, which means that tech CEOs couldn’t get together, take a group photo and say that they want to make the world a better place. In the meantime, dozens of tech CEOs have chosen to sign a common pledge. Despite the positive impact of some technological breakthroughs, they collectively recognize that everything is not perfect with the tech industry. “Recognizing that such progress may be hindered by negative externalities, including unfair 48
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competition such as abuse of dominant or systemic position, and fragmentation of the internet; that, without appropriate safeguards, technology can also be used to threaten fundamental freedoms and human rights or weaken democracy; that, unless we implement appropriate measures to combat it, some individuals and organizations inevitably use it for criminal purposes, including in the context of conflicts,” the pledge says. Among other things, companies that sign the pledge agree to cooperate when it comes to fighting toxic content, such as child sexual abuse material and terrorist content. They promise to “responsibly address hate speech, disinformation and opinion manipulation.” Interestingly, they also agree that they should “contribute fairly to the taxes in countries where [they] operate.” This has been an ongoing DAWN
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issue between the French government and the U.S. government. The OECD and the European Union have also discussed implementing a tax on tech giants so that they report to tax authorities in each country where they operate. Other commitments mention privacy, social inclusiveness, diversity and equity, fighting all sorts of discriminations and more. As the name suggests, the pledge revolves around using technology for good things. Now let’s talk about who signed the pledge. There are some well-known names, such as Sundar Pichai from Alphabet (Google), Mark Zuckerberg from Facebook, Brad Smith from Microsoft, Evan Spiegel from Snap and Jack Dorsey, the CEO of Twitter and Square. Other companies include Cisco, Deliveroo, Doctolib, IBM, OpenClassrooms, Uber, etc. Some nonprofit organizations also signed the pledge, such as the Mozilla Foundation, Simplon, Tech for Good France, etc. But it’s more interesting to see who’s not on the list. Amazon and Apple have chosen not to sign 49
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the pledge. There have been discussions with Apple but the company eventually chose not to participate. “Amazon didn’t want to sign it and I invite you to ask them directly,” a source close to the French president said. The French government is clearly finger-pointing in Amazon’s case. This is an odd move as it’s a non-binding pledge. You can say that you want to “contribute fairly to taxes” and then argue that you’re paying everything that you owe — tax optimization is not tax evasion, after all. Worse, you can say that you’re building products with “privacy by design” in mind while you’re actually building entire companies based on personalized ads and micro-targeting. In other words, the Tech for Good Summit was created for photo opportunities (like the photo from 2018 above). Tech CEOs want to be treated like heads of state, while Macron wants to position himself as a tech-savvy president. It’s a win-win for them, and a waste of time for everyone else. Some nonprofit organizations and governance groups are actually working hard to build digital commons. But big tech companies are using the same lexicon with these greenwashing-style campaigns. In 2018, hundreds of organizations signed the Paris Call (https://techcrunch.com/2018/11/12/with-theparis-call-macron-wants-to-limit-cyberattacks). In 2019, the biggest social media companies signed the Christchurch Call (https://techcrunch.com/2019/05/14/ world-leaders-ask-tech-giants-to-tackle-toxic-contentwith-christchurch-call). And now, we have the Tech
for Good Call. Those calls can’t replace proper regulation.. https://techcrunch.com/2020/11/30/dozens-oftech-companies-sign-tech-for-good-call-followingfrench-initiative DAWN
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Governance
Africa is Set to Roll Out its Single Passport This Year By Apolinari Tairo - eTN Tanzania
SINGLE PASSPORT FOR ALL AFRICAN NATIONS is set to be introduced this year as the continent is forging its way to easing movements of people and goods within its internal boundaries. Single passport for Africans is a declaration of the Africa Union Agenda 2063 seeking to integrate the continent’s business and politics based on PanAfricanism and the vision of Africa’s Renaissance. The African passport is the flagship project of the 2063 Agenda aiming to remove restrictions on Africans’ ability to travel, work and live within their own continent. The initiative aims at transforming Africa’s laws, which remain generally restrictive on the movement of people despite political commitments to bring down borders with the view to promoting the issuance of visas by member states to enhance 50
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free movement of all African citizens in all African countries. The African Union Passport is currently available to government leaders, diplomats and AU officials only. Reports from South Africa said that the passport is set to be rolled out this year as an implementation of the African Continental Free Trade Area (AfCFTA). Reports said that the AfCFTA aims to bring together 1.3 billion people in Africa’s US$ 3.4 trillion economy, creating a single market for goods and services in addition to a customs union with free movement of both capital and business travelers. The Africa Union Agenda 2063 initiative aims at transforming Africa’s laws, which remain generally restrictive on the movement of people despite political commitments to bring down borders with the view to promoting the issuance of visas by member states to enhance free movement of all African citizens in all African countries. The passport is expected to ease travel within the African continent to stimulate then create economic success to this Continent. Tourism is on top agenda among key economic areas envisaged to boost Africa’s development and social welfare of its people. The AU has been pushing its objective to double intra-Africa tourism by 2023, as part of the 10-year implementation plan (2014- 2023), which fits into the broad AU Agenda 2063 on free movements between African states. The introduction of an African passport and opening up of borders has the potential and capacity to ensure that African travelers get the opportunity to explore the continent, which indeed has significant economic, political, cultural and social benefits. Among such benefits are: • Boosting intra-Africa trade, commerce and tourism; • Facilitating labour mobility, intra-Africa knowledge and skills transfer; • Promoting pan-African identity, social integration and tourism; • Improving trans-border infrastructure and shared development; DAWN
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Publisher's Message continues
Publisher's Message from page 5 and traditional leaders will need to aid public health education by sharing health care knowledge with their constituencies. A lot of people could have been saved by wearing masks, washing hands and social distancing. Further, we implore the government to change the rules that do not allow girls to be in school while they are pregnant. The Pandemic has clearly shown that some rules favor boys than girls and that has to stop. The burden of household responsibilities grows heavier on girls and their freedoms may well have been curtailed
• Fostering a comprehensive approach to border management; and • Promoting rule of law, human rights, and public health. African Tourism Board (ATB) had joined other economic and development organizations in Africa to campaign then promoting free movement of people including tourists within Africa. ATB is now championing for the creation of intraAfrica tourism, aiming to bring together the people
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in line with gendered expectations. It is time to ensure all people have the same rights and rules regardless of gender. With that said we wish everyone on the African Continent, those in America where this pandemic has been so much more devasting, Gods speed and good end to this pandemic. Ricky Muloweni Publisher/President dawn@africabusinessassociation.org aba@africabisinessassociation.org www.africabusinessassociation.org Image credit: Save the Children International
of Africa through free movements and travels within the continent. Established two years ago, ATB is currently working jointly with African governments and other, notable Pan-African organizations and tourism institutions to promote then marketing tourism in Africa with a target to encourage visa free movements among the African states. https://eturbonews.com/2586825/africa-is-set-to-rollout-its-single-passport-this-year/
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Commentary
Here's the Whole Poem 22-Year-Old Amanda Gorman Read at Biden's Inauguration By Amber Jamieson A young Los Angeles poet read a stirring piece at President Joe Biden's inauguration (www. buzzfeednews.com/article/clarissajanlim/joe-biden-46thpresident-inauguration) on Wednesday, January 20th,
Amanda Gorman popsugar.com
The Hill We Climb Amanda Gorman When day comes, we ask ourselves, where can we find light in this never-ending shade? The loss we carry. A sea we must wade. We braved the belly of the beast. We’ve learned that quiet isn't always peace, and the norms and notions of what “just” is isn't always justice. And yet the dawn is ours before we knew it. Somehow we do it. Somehow we weathered and witnessed a nation that isn't broken, but simply unfinished. We, the successors of a country and a time where a skinny black girl descended from slaves and raised by a single mother can dream of becoming president, only to find herself reciting for one. And, yes, we are far from polished, far from pristine, but that doesn't mean we are striving to form a union that is perfect. We are striving to forge our union with purpose. To compose a country committed to all cultures, colors, characters, and conditions of man. And so we lift our gaze, not to what stands
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words she'd written to both celebrate the country's new chapter and address the mob attack on the US Capitol. "When day comes, we ask ourselves, where can we find light in this never-ending shade?" Amanda Gorman began in her inaugural poem. between us, but what stands before us. We close the divide because we know to put our future first, we must first put our differences aside. We lay down our arms so we can reach out our arms to one another. We seek harm to none and harmony for all. Let the globe, if nothing else, say this is true. That even as we grieved, we grew. That even as we hurt, we hoped. That even as we tired, we tried. That we'll forever be tied together, victorious. Not because we will never again know defeat, but because we will never again sow division. Scripture tells us to envision that everyone shall sit under their own vine and fig tree, and no one shall make them afraid. If we're to live up to our own time, then victory won't lie in the blade, but in all the bridges we've made. That is the promise to glade, the hill we climb, if only we dare. It's because being American is more than a pride we inherit. It's the past we step into and how we repair it. We've seen a force that would shatter our nation, DAWN
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At 22, Gorman is the youngest ever person selected to write a poem for a president's inauguration. But this isn't the first time Gorman has been on the national stage: In 2017, she became the first-ever National Youth Poet Laureate. "WHAT AN HONOR to be the Inaugural Poet of 2021," Gorman wrote on Instagram (www.instagram. com/p/CKCZOSjF_6M/). The poet studied speeches by Abraham Lincoln and Dr. Martin Luther King Jr. as part of her research for the inauguration poem. She was halfway through writing it when a proTrump mob staged an insurrection at the Capitol two weeks ago, the New York Times reported (www.nytimes.com/2021/01/19/books/amanda-gormaninauguration-hill-we-climb.html).
She stayed up late on Jan 6. and finished the poem, including lines about the Capitol attack — "We’ve seen a force that would shatter our nation rather than share it / Would destroy our country if rather than share it. Would destroy our country if it meant delaying democracy. And this effort very nearly succeeded. But while democracy can be periodically delayed, it can never be permanently defeated. In this truth, in this faith we trust, for while we have our eyes on the future, history has its eyes on us. This is the era of just redemption. We feared at its inception. We did not feel prepared to be the heirs of such a terrifying hour. But within it we found the power to author a new chapter, to offer hope and laughter to ourselves. So, while once we asked, how could we possibly prevail over catastrophe, now we assert, how could catastrophe possibly prevail over us? We will not march back to what was, but move to what shall be: a country that is bruised but whole, benevolent but bold, fierce and free. We will not be turned around or interrupted by intimidation because we know our inaction and inertia will be the inheritance of the next generation, become the future. Our blunders become their burdens. 53
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it meant delaying democracy." Gorman told the Times that her poem was "not going to in any way gloss over what we’ve seen over the past few weeks and, dare I say, the past few years." First Lady Jill Biden had seen Gorman do a reading at the Library of Congress (https://loc. gov), and the inauguration committee reached out to her last month asking if she would write something to perform at the inauguration. "What I really aspire to do in the poem is to be able to use my words to envision a way in which our country can still come together and can still heal," said Gorman. On the morning of the inauguration, Gorman — dressed in a sleek long yellow coat and a red headband — posted selfies on Instagram with the Obamas and the Clintons. www.buzzfeednews.com/article/amberjamieson/ amanda-gorman-biden-inauguration-poem
But one thing is certain. If we merge mercy with might, and might with right, then love becomes our legacy and change our children's birthright. So let us leave behind a country better than the one we were left. Every breath from my bronze-pounded chest, we will raise this wounded world into a wondrous one. We will rise from the golden hills of the West. We will rise from the windswept Northeast where our forefathers first realized revolution. We will rise from the lake-rimmed cities of the Midwestern states. We will rise from the sun-baked South. We will rebuild, reconcile, and recover. And every known nook of our nation and every corner called our country, our people diverse and beautiful, will emerge battered and beautiful. When day comes, we step out of the shade of flame and unafraid. The new dawn balloons as we free it. For there is always light, if only we're brave enough to see it. If only we're brave enough to be it.
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Investment
African Stock Exchange/Bourse • Algeria • Angola • Botswana • Cameroon • Cape Verde Islands • Cote de Ivoire • Egypt • Ethiopia • Ghana • Kenya • Libya • Malawi • Mauritius • Morocco • Mozambique • Namibia • Nigeria
Algiers Stock Market Angola Stock Exchange and Derivatives Botswana Stock Exchange Douala Stock Exchange Bolsa de Valores of Cape Verde Bourse Regionale des Valeurs Mobilieres UEMOA (Abidjan) The Egyptian Exchange Ethiopia Commodity Exchange Ghana Stock Exchange Nairobi Stock Exchange Libyan Stock Market Malawi Stock Exchange Stock Exchange of Mauritius Casablanca Stock Exchange Bolsa Valores de Mocambique Namibian Stock Exchange Nigerian Stock Exchange
• Rwanda • Seychelles • Somalia • South Africa
Rwanda Stock Exchange Seychelles Securities Exchange Somali Stock Exchange Bond Exchange of South Africa Johannesburg Stock Exchange
• South Sudan • Swaziland • Tanzania • Tunisia • Uganda • Zambia • Zimbabwe • Zimbabwe
Khartoum Stock Exchange Swaziland Stock Exchange Dar es Salaam Stock Exchange Tunisia Stock Exchange Uganda Securities Exchange Lusaka Stock Exchange Victoria Falls Stock Exchange Zimbabwe Stock Exchange
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www.sgbv.dz www.bodiva.ao www.bse.co.bw www.douala-stock-exc www.bvc.cv (in Portug
www.brvm.org www.egx.com.eg www.ecx.com.et www.gse.com.gh www.luse.co.zm www.lsm.gov.ly www.mse.co.mw www.stockexchangeof www.casablanca-bours www.bolsadevalores.co www.nsx.com.na www.nse.com.ng/Page www.abujacomex.com www.rse.rw https://merj.exchange www.somalistockexcha www.bondexchange.co www.jse.co.za/Home.a www.a2x.co.za www.kse.com.sd www.ssx.org.sz www.dse.co.tz www.bvmt.com.tn www.use.or.ug www.luse.co.zm www.vfex.exchange www.zse.co.zw
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change.com guese)
fmauritius.com se.com o.mz
es/default.aspx
ange.so o.za aspx
Ribbon Cutting at the opening of the Victorial Falls Stock Exchange Oct. 2020 Chronicle
Stocks Mirror the Economy Africa has around 29 stock exchanges representing 38 countries including two regional exchanges. Africa has become the newest destination for emerging markets investors. From 2000, according to the World Economic Forum, "half of the world's fastest-growing economies have been in Africa." By 2030 one in five people will be African. Combine the continent’s soaring population with technology, economic growth, increasing demand from its growing middle class, improvements in infrastructure, political stability, health and education, and Africa could be the next century’s economic growth powerhouse. Nobody can predict the growth trajectory with accuracy, but Africa is poised for growth. Profile: The Bourse Régionale des Valeurs Mobilières (BRVM) is the regional stock exchange of the member states of the West African Economic and Monetary Union, namely, Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal, and Togo. The Exchange is located in Abidjan but maintains market offices in each of the affiliated countries. Being both an economic and political institution, the BRVM is governed by the provisions of the OHADA Uniform Act relating to Commercial Companies and Economic Interest Groups. The operations of the Exchange are entirely digital making it a technical success story on the continent. Dealing members therefore need not be present on the premises of the central office but can engage from their own offices which the bourse guarantees equal access regardless of the economic operator's location. https://afx.kwayisi.org/
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Investment
Sub-Saharan Africa Named Riskiest Investment Region due to Violence By Kaamil Ahmed
Fighters from a local armed groups patrol, aiming to lower the number of weapons in circulation in and around the city of Menaka, situated between Mali, Niger and Burkina Faso. Photograph: Souleymane Ag Anara/AFP/Getty
MILITANT VIOLENCE AND ABUSES by security forces have made sub-Saharan Africa the riskiest region in the world for business and investors, a new report says. Seven of the world’s 10 highest-risk countries for militant violence are in the region with significant deteriorations in Mozambique and the Democratic Republic of the Congo (DRC), according to the annual Terrorism Intensity Index (www.maplecroft. com/insights/analysis/terrorism-7-of-10-highest-riskcountries-now-in-africa--index) released on recently by
risk consultants Verisk Maplecroft. Much of the concern was over Boko Haram’s attacks in West Africa as well as other militias in the central African Sahel, with a warning that conflict could continue to spread regionally.
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The report highlights risks for companies and staff at sites and transport routes, and warns that government forces also pose a risk. Alexandre Raymakers, Verisk Maplecroft’s senior Africa analyst, said businesses wanted to avoid “being associated with a government that provides security but the security forces commit human rights violations”. “Human rights violations and atrocities committed by security forces are drivers for recruitment by extremist groups,” he said. “More and more extremist violent organisations will use that narrative [to recruit].” The Sahel has been the target of a coordinated anti-militant drive by regional governments, supported by France, but there has been a surge
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London Investment Bank Picks Kenyan for Top African Job By Brian Ngugi A F R I C A M E R C H A N T CAPITAL, (AMC) a privately owned boutique merchant bank based in London has appointed Kenyan executive Richard Ngumi as its new transactor in charge of originating trade finance deals into and out of Africa. Mr. Ngumi moves to AMC from renewable energy firm Dream EP Global Energy Kenya, where he had been serving as a consultant for over two years. AMC focuses exclusively on the high growth private capital markets of Sub-Sahara Africa. Mr. Ngumi formerly worked at Stanbic Bank and Standard Bank – in investment banking, as well as trade and commodity finance. His hiring follows news in December that the firm had secured $6.5 million (Sh716 million) in investment from Zebu Investment Partners (ZIP), a private equity fund which works to boost food security on the continent. Since providing its first transaction in 2016, AMC says it has completed a number of deals in African countries such as Cameroon, Ghana, Kenya and Nigeria, where it has facilitated exports and imports
for soft commodities including cocoa, cashew and coffee. The deals space has, however, been negatively affected by the Covid pandemic, with firms going slow on new investments as they wait to see the longer term effects of the pandemic on the economy. In the first half of last year the value of private equity deals on the continent recorded a 63% drop compared to the previous year, a report from the African Private Equity and Venture Capital Association (AVCA) showed. The value of the 81 private equity deals reported stood at just $700 million. The Sub-Saharan Africa region is expected to fall into its first recession for 25 years as economic growth reverses and plunges due to the Covid-19 global crisis according to the World Bank. Several distressed Kenyan firms in the Covid-19 hit travel, entertainment, energy and financial sectors could be snapped up by private equity funds eyeing quick bargains, Japanese law firm, Anderson Mori & Tomotsune said last November..
in the numbers of civilians killed by government forces this year. Raymakers said that while militant groups had become more effective, government counteroffensives had often failed, and exacerbated core problems, because of abuses against civilians. “Generally, the counterterrorism strategies taken are mainly military-focused, deploying military forces to seek and destroy armed outfits. The problem is thatthese groups are driven by a set of local grievances,” said Raymakers. Burkina Faso, Mali, Somalia, Cameroon, Mozambique, Niger and the DRC were all classed as at extreme risk. Mozambique had seen a dramatic change this
year as militancy in its remote Cabo Delgado region which had previously been seen as a limited threat was now overspilling into the wider region and posing a serious challenge to security forces. Rights groups have claimed that military abuses, neglect and the actions of companies seeking to exploit Cabo Delgado’s recent gemstone and gas discoveries have fuelled a “cocktail of violence”
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www.businessdailyafrica.com/bd/markets/market-news/ london-investment-kenyan-for-top-african-job-3260982 Image credit: LinkedIn
(www.theguardian.com/global-development/2020/sep/18/ mozambique-cabo-delgado-cocktail-of-violence-escalatesel-dorado-of-gemstones).
www.theguardian.com/global-development/2020/ dec/11/sub-saharan-africa-named-worlds-riskiestregion-for-investment Image credit: prosperafrica.com
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Investment
Meet the Nigerian Entrepreneur who Just Raised $20.5 Million to Help Truck Drivers Manage Their Business By Igor Bosilkovski
CloudTrucks cofounders (L to R): Jin Shieh (CTO) and George Ezenna CLOUDTRUCKS
CLOUDTRUCKS, A PLATFORM HELPING truck drivers find work and organize their business announced today that it has raised $20.5 million in a Series A round led by Caffeinated Capital with participation from Craft Ventures, Khosla Ventures, SciFi VC, Kindred Ventures, Abstract Ventures, and Better Tomorrow Ventures. 58
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Cofounder and CEO Tobenna Arodiogbu said that the problem they were trying to solve was basically helping truck drivers manage their business better. “We noticed that more and more drivers wanted to take control of their schedule and become entrepreneurs, and needed a lot more help with DAWN
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managing everything: from revenue, cash flow as well as minimizing their costs,” Arodiogbu says. CloudTrucks
taking a flat rate of 13-15% percent of what the driver is generating on the platform. The company, which launched in May of this year, has grown to $1.8M in freight transactions over the past 6 months and the company is growing 40% month over month, doing over 300 deliveries on a monthly basis. Arodiogbu, who is originally from Nigeria and earned degrees from Penn State and Johns Hopkins, previously cofounded a company called (www.cloudtrucks. Scotty Labs, which had raised $6 million and was com) has built acquired by DoorDash in 2019. a mobile app Arodiogbu met his cofounder Jin Shieh (who was where drivers born in Taiwan and serves as CTO) at Zenefits, can see loads where Shieh he was director of engineering, coming from and Arodiogbu was a product manager. George many different Ezenna (who is also from Nigeria) and Arodiogbu shippers across worked together at Scotty Labs. the country, and the company has an algorithm Ray Tonsing, founder and managing director (called Schedule Optimizer) which helps drivers at Caffeinated Capital, who led the Series A make better decisions on which loads to take to investment says that the company aims try to increase their revenue. empower small trucking firms and individual truck Along with the announcement of the funding drivers with modern tools. round, CloudTrucks has rolled out a payment “The cofounders are really trying to create a product called CT Cash. consumer experience to modernize the business “It helps users get paid faster so they don't in a box toolkit for truck drivers,” Tonsing says. have to worry about getting paid in 30 or 45 days, “Looking at it long term, the company is going to or tracking which jobs they are paid or not paid be about how it can help these drivers earn more for,” Arodiogbu says. “We take over all of that money and optimize their time.” stuff so they can run their businesses with fewer CloudTrucks, which currently employs 13 people headaches.” and is headquartered in San Francisco, previously According to Arodiogbu, CloudTrucks is lowering raised $6.1 million in a seed round. With the $20.5 the bar of becoming independent for truck drivers. million Series A the total amount of equity funding “The full process after they sign up to the app is in the company has grown to $26.6 million. that they find all the leads and book them instantly, www.forbes.com/sites/igorbosilkovski/2020/12/16/ they have a calendar to manage their schedule, meet-the-nigerian-entrepreneur-who-just-raised-205they have CT Cash to manage their payments, million-to-help-truck-drivers-manage-their-business and everything is simplified.” Image credits: CloudTrucks' platform The way CloudTrucks generates revenue is by 59
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Investment
Ebony Magazine Purchased by Former NBA Player Ulysses ‘Junior’ Bridgeman for $14 Million By Cedric 'BIG CED' Thornton
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million for the company. Earlier this year, EBONY magazine, which has been in circulation for more than 50 years, was forced into involuntary bankruptcy as lenders claimed debts remained unpaid. The sale of EBONY is expected to be approved by a federal bankruptcy judge Tuesday, December 29th, according to Leonard Simon, a Houston attorney representing Ebony Media. EBONY, which has been in circulation since November 1945, has been in financial trouble for Ulysses "Junior" a while. Last July, the magazine sold its iconic Briddgeman photo archive for $30 million. Earlier this summer, THE FAMED EBONY MAGAZINE may be on the it replaced CEO Willard Jackson after a financial verge of resurrection. According to The Chicago investigation into his transactions. Bridgeman has a history of business success. As Tribune, it may have a new owner in former NBA basketball player Ulysses “Junior” Bridgeman. the CEO of Manna Inc., the holding company for Bridgeman’s company, Bridgeman Sports and his franchise empire of quick-service restaurants, Media, has emerged as the successful bidder for he’s a longtime member of the BE 100s. According Ebony Media’s assets by a Houston bankruptcy to the Michigan Chronicle, Bridgeman was once court recently. Bridgeman placed a bid of $14 featured on a 2016 Forbes top-paid athletes list, and he is the CEO of a Coca-Cola bottling company and part-owner of Coca-Cola Canada Bottling Limited. Bridgeman, who once played for the Milwaukee Bucks and the Los Angeles Clippers, had tried to purchase sports magazine Sports Illustrated back in 2018. He eventually withdrew his bid in 2019 as the magazine was sold to Authentic Brands Group for $110 million. “EBONY kind of stood for Black excellence, showing people doing positive things that could benefit everyone,” Bridgeman said. “It just made you feel good.” Bridgeman stated that he expects EBONY to remain as a digital publication and the business plan is still being formulated as his children will be responsible for managing the company. “When you look at EBONY, you look at the history not just for Black people, but of the United States,” Bridgeman said. “I think it’s something that a generation is missing and we want to bring that back as much as we can.” www.blackenterprise.com/ebony-magazinepurchased-by-former-nba-player-ulysses-juniorbridgeman-for-14-million Image credit: The Times of Northwest Indiana, Flickr 61
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Investment
F5 Networks will Buy Volterra Cloud Computing Startup for $500M in Latest Major Acquisition By Todd Bishop
F5 NETWORKS ANNOUNCED AN agreement to acquire cloud computing startup Volterra Inc. for $440 million in cash up front and $60 million in future consideration, taking the Seattle-based application security and delivery company’s total spending on acquisitions to more than $2 billion over the past two years. Volterra, based in Santa Clara, Calif., offers a platform for edge computing across multiple 62
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clouds, in which processing takes place near the locations of sensors and data for reduced latency. The 125-person company, founded in 2017, came out of stealth mode in November 2019. Volterra raised $50 million in funding as an independent startup from investors including Khosla Ventures, Microsoft’s M12 venture arm, Samsung NEXT Ventures and ITOCHU Technology Ventures. It’s part of a broader transformation of F5 Networks DAWN
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(www.f5.com) under CEO François Locoh-Donou in recent years. F5 has been moving aggressively into software and services, expanding beyond its traditional networking hardware business. The company announced a $670 million deal for Nginx, the company behind the widely-used web and application server technology, in March 2019; and completed its $1 billion purchase of Shape Security in January of this year. F5 says it will use the Volterra technology as the basis for developing its own edge platform for large companies and service providers. “The real power of this combination is how it transforms our competitive position,” LocohDonou said on a conference call with analysts and investors, saying the companies will work together to create what he called Edge 2.0, describing it as the first enterprise-ready edge platform focused on application security for large-scale deployments. The announcement follows news that activist investor Elliott Management took a stake in F5. Citing unnamed people familiar with the matter, the Wall Street Journal reported that Elliott representatives had spoken to F5’s management about ways to boost its stock, and questioned the company’s acquisitions of Shape and Nginx. Those deals also contributed to a decline in F5’s operating profit margin, slipping to 30% as of the fourth quarter, from 36% previously. Locoh-Donou, who is originally from Togo, said on the call that the deal is within the parameters given by the company for acquisitions at its November analyst meeting. Announcing the Volterra deal, F5 said it expects the acquisition to accelerate its revenue growth,
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and raised its guidance. It also reiterated its plan to return $1 billion to shareholders over the next two years. The company previewed its financial results for its fiscal first quarter, ended Dec. 31, saying it expects revenue between $623 to $626 million, up 10%, driven by 70% software revenue growth. F5 says Volterra founder and CEO Ankur Singla and other members of the startup’s leadership team will join F5, based in Santa Clara. “When we started Volterra, multi-cloud and edge were still buzzwords and venture funding was still searching for tangible use cases,” Singla said in a post. “Fast forward three years and COVID-19 has dramatically changed the landscape — it has accelerated digitization of physical experiences and moved more of our day-to-day activities online. This is causing massive spikes in global Internet traffic while creating new attack vectors that impact the security and availability of our increasing set of daily apps.” Haiyan Song, the newly-named F5 Networks executive vice president of security, said in a post that the companies “will create a new way to deliver more adaptive, dynamic experiences for our customers and help solve their most critical application challenges.” www.geekwire.com/2021/f5-networksacquiring-volterra-cloud-computing-startup500m-3rd-major-acquisition-two-years/?utm_ medium=40digest.7days3.20210107. carousel&utm_source=email&utm_ content=&utm_campaign=campaign Image credit: MarketBeat
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Investment
Master P & Baron Davis Could Make History as they Position themselves to Acquire Reebok By BOTWC Staff
HIP-HOP MOGUL AND BUSINESSMAN Percy "Master P" Miller and former NBA All-Star Baron Davis are in talks to purchase Reebok, which could sell for around $2.4 billion. If the duo acquires the brand from its parent company, Adidas, it will be the first Black-owned major sneaker brand. Adidas acquired Reebok in 2005 for $3.8 billion, but its value has decreased, and the sneaker giant is looking to offload the brand. "I think Reebok is being undervalued," Davis told Forbes. "I left Nike as a 22-year-old kid representing myself and made the jump to Reebok, which took a chance on me as a creative and as an athlete. I want the people I know — athletes, influencers, designers, celebs — to sit at the table with me." In 2003, Sean "Jay-Z" Carter signed with Reebok and dropped the S. Carter shoes (www. sneakerfiles.com/reebok/reebok-rbk-s-carter-jay-z). The next year, Reebok's U.S. footwear sales grew by 17%, primarily due to its continued investment in hip-hop. Miller and Baron reportedly plan to make it
easier for independent sneaker-makers to get their products distributed. "As we focus on turning Reebok into a lifestyle brand, not just a basketball brand. Our most important initiative will be to put money back into the community that built this company," Miller told reporters. "These companies have been benefiting off us; this could be history for this company going Black-owned." T h e businessmen are entrepreneurs with their hands in media, technology, sports, music, and fashion. And as we recently reported, Miller started his Uncle P food products (http://uncleprice.com). Miller has an estimated net worth of over $200 million, Davis $60 million. "We want this to be a community effort that sets up the next generation of leaders for success," Vy Le, COO of Baron Davis Enterprises (www. barondavisenterprises.com), said. www.becauseofthemwecan.com//blogs/culture/ master-p-baron-davis-could-make-history-asthey-position-themselves-to-acquire-reebok
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Investment
Senegalese R&B Singer Akon Signs JV in Congo to Build Copper-Cobalt Mine By Staff Writer
A COMPANY LED BY American-Senegalese R&B singer Akon has signed a deal to finance a copper and cobalt mine in the Democratic Republic of Congo (DRC) in a joint venture with a state miner, said Reuters citing a contract published by the mines ministry. Akon’s investment is through a US-registered firm called White Waterfall LLC (www.waterfall-llc. com) of which he is president and CEO, said the newswire. One of the contracts, dated December 14 and signed by Akon, whose legal name is Aliaune Thiam, commits White Waterfall to paying a $2m signing bonus and financing a feasibility study of
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the Kimono reserve in Haut Katanga province. White Waterfall is a private equity fund that invests in mining companies that are not publicly traded, according to its website. The site does not list the company’s investors or any investments. The Grammy-nominated singer, known for hit songs like “Don’t Matter” and “Smack That,” has launched a number of business and philanthropic ventures across Africa in recent years, including a $6bn futuristic city in Senegal and a cryptocurrency called Akoin, said Reuters. The DRC is Africa’s top producer of copper and the world’s leading miner of cobalt, used in electric car batteries. www.miningmx.com/trending/44704-senegaleserb-singer-akon-signs-jv-in-congo-to-build-coppercobalt-mine/ Image credit: Akon DAWN
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Technology/Science
NASA Picks Astronauts for New Moon Missions By Paul Rincon
announced by US VicePresident Mike Pence at an event in Florida. He said: "My fellow Americans, I give you the heroes of the future who will carry us back to the Moon and beyond." Speaking at the eighth National Space Council meeting at Kennedy Space Jessica Watkins is a member of the most recent astronaut class, selected for Center, NASA training in 2017. She is a NASA astronaut, geologist, aquanaut and former administrator international rugby player. Born: May 14, 1988 (age 32) in Gaithersburg, MD; Jim Bridenstine Education: University of California, Los Angeles · Stanford University said: "This is the first cadre of our Artemis NASA HAS ANNOUNCED 18 ASTRONAUTS astronauts. I want to be clear, there's going to be who will travel to the Moon under the agency's more." The US space agency plans to send a man and Artemis programme. woman to the Moon's south pole in 2024 for the They include individuals who have already travelled to the International Space Station, first crewed landing since Apollo 17 in 1972. But this will be followed by further flights by as well as new recruits who have never flown in astronauts travelling in a spacecraft called Orion, space. The group includes the next man and first woman which will be launched by a huge rocket called the Space Launch System (SLS). who will walk on the lunar surface in 2024. Bridenstine has said that NASA wants to establish The cadre of nine women and nine men were 66
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a "sustainable" programme of lunar exploration, including the construction of a lunar base. The astronauts announced on Wednesday are: • Joseph Acaba. Astronaut selection: 2004. Three flights - shuttle (2009), Soyuz (2012; 2018) • Kayla Barron. Astronaut selection: 2017. No flights • Raja Chari. Astronaut selection: 2017. No flights • Matthew Dominick. Astronaut selection: 2017. No flights. • Victor Glover. Astronaut selection: 2013. One flight - Crew Dragon (2020) • Warren Hoburg. Astronaut selection: 2017. No flights • Jonny Kim. Astronaut selection: 2020. No flights • Christina Koch. Astronaut selection: 2013. One flight - Soyuz (2019) • Kjell Lindgren. Astronaut selection: 2009. One flight - Soyuz (2015)
• Nicole A Mann. Astronaut selection: 2013. No flights, assigned to Boeing Starliner crew • Anne McClain. Astronaut selection: 2013. One flight - Soyuz (2018) • Jessica Meir. Astronaut selection: 2013. One flight - Soyuz (2019) • Jasmin Moghbeli. Astronaut selection: 2017. No flights • Kate Rubins. Astronaut selection: 2009. Two flights - Soyuz (2016; 2020) • Frank Rubio. Astronaut selection: 2017. No flights • Scott Tingle. Astronaut selection: 2009. One flight - Soyuz (2017) • Jessica Watkins. Astronaut selection: 2017. No flights • Stephanie Wilson. Astronaut selection: 1996. Three fllights - shuttle (2006; 2007; 2010). www.bbc.com/news/scienceenvironment-55253932 Image credit: David Dehoyoos / NASA JSC, rengaconsulting.com
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Travel Africa w www.Issuu.com/blackbusinessnews
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Technology/Science
Nigeria’s Fintech Scene Booms Despite Economic Woes By Alex Irwin-Hunt
THE COVID-19 PANDEMIC, oil price slump and civil unrest have hammered Nigeria’s economy this year, but the tech start-up scene in Africa’s most populous country has continued to thrive. Yabacon Valley, an area of Lagos which took its nickname from the US tech hub, hosts hundreds of banks, IT companies and start-ups. The number of internet users in the country is surging, hitting 140 million people in June. Nigerian start-ups are capitalising on this shift, raising $747m last year, according to Partech African. Leading the way are fintech firms, as entrepreneurs look to serve the 40% of Nigerians that are remain unbanked and meet gaps in the market that have not been met by incumbent providers. Tunde Kehinde, chief executive and co-founder of Lidya, a Nigerian start-up providing loans to small and medium-sized enterprises, said at a recent TechCrunch event that “fintech is really top of mind right now”. It’s a really exciting time for tech start-ups, Mr. 68
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Kehinde added, as they can “operate with a blank slate”, developing products and services for African consumers without being held back by “legacy infrastructure” or technology. Since being founded in 2016, Lidya has expanded to offer its services in four countries outside Nigeria. Other Nigerian fintechs that have drawn investors’ attention, include mobile money service Opay, payment app Palmpay and challenger bank Kuda, which have all raised large sums of money since November 2019. Most notably, Lagos-based Interswitch received $200m of funding from US payments group Visa to value it at more than $1bn and become Nigeria’s first home-grown unicorn, while another start-up, Paystack, was acquired for a reported $200m by Silicon Valley-based payments giant Stripe.
Africa’s springboard Aaron Fu, the head of growth at Catalyst Fund, a fintech-focused venture capital (VC) firm and incubator, says that companies can become “incredibly large and successful by only being in Nigeria”, making it the go-to market to expand operations for start-ups founded in other African countries and internationally. “Nigeria is increasingly becoming the gateway into the African start-up world for most landing into the continent for the first time,” he adds. The opportunity afforded in the financial services sector is also reflected in foreign direct investment DAWN www.africabusinessassociation.org
Nigeria's Leading Fintechs Fintech
Industries
Headquarters
Founded
Last Funding Type
Carbon
Financial Services, Payments Financial Services, Mobile Payments Payments Financial Services Payments, Developer APIs Financial Services, Payments Banking, Financial Services Financial Services Financial Services, Payments Financial Services, Mobile Payments Financial Services Payments Financial Services, Payments, Internet Banking, Debit Cards, Financial Services Financial Services, Mobile Payments Payments, SaaS, SMS
Lagos, Nigeria
2016
Debt Financing
San Francisco, US
2017
Series B
Lagos, Nigeria London, UK San Francisco, US
2003 2015 2016
Private Equity Seed Series B
Lagos, Nigeria
2002
Corporate Round (Visa)
Lagos, Nigeria
2018
Seed
Lagos, Nigeria Lagos, Nigeria
2016 2018
Series A Series B
London, UK
2009
Series B
Lagos, Nigeria
2019
Seed
Lagos, Nigeria
2015
Acquired by Stripe
Lagos, Nigeria
2016
Seed
Amsterdam, The Netherlands London, UK
2014
Venture – Series Unknown
2012
Private
Chipper Cash E-Tranzact Fairmoney Flutterwave Interswitch Kuda Bank Lidya OPay Paga PalmPay Paystack PiggyVest
Terrapay VoguePay
(FDI) figures. Investment monitor fDi Markets tracked 44 greenfield FDI projects in Nigeria’s financial services sector between 2014 and 2019, making it the most active sector alongside business services during the period. Interswitch, Nigeria’s ‘poster boy’ fintech unicorn, founded in 2002, decided to revive its VC arm in October 2020 to invest in Nigeria and other African tech hubs as they have matured. Despite a thriving start-up ecosystem with investment pouring in, Nigeria’s regulatory and macroeconomic climate has room for improvement. “The frequency and duration of recessions in Nigeria is contributing to concern for most general partners,” said Gozie Chigbue, the director of 69
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funds and capital partnerships at CDC Group, the UK’s development finance institution, at a recent African Private Equity and Venture Capital Association (AVCA) event. On top of Nigeria entering its second recession in five years, the business climate still lags its west African peers. In the World Bank’s 2020 Ease of Doing Business ranking, Nigeria ranked 131 out of 190 countries, held back by poorly developed transport and energy infrastructure, and inefficiencies in both the judicial and dispute settlement systems. www.thebanker.com/Transactions-Technology/ Nigeria-s-fintech-scene-booms-despite-economicwoes DAWN
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Technology/Science
Entrepreneur Feleg Tsegaye Launched Ethiopia’s First Online Food Delivery Company By Njera Perkins
FORWARD-THINKING INNOVATIONS IN AFRICA are what keeps the continent ahead of the game in leading the future for us all. Thanks to entrepreneur Feleg Tsegaye, Africa’s momentum in the food space is seeing an uptick after launching Deliver Addis, Ethiopia’s first online restaurant delivery company, Face2Face Africa (https://face2faceafrica.com) reports. Tsegaye — who was born to exiled Ethiopian parents in the U.S. — moved to Ethiopia when he was 24-years-old to begin his ambitious business endeavor. He set up his Addis Ababa-based company in 2015 as both a platform and an app to deliver takeout restaurant food, groceries, and beverages, as well as flowers and books. According to How We Made It in Africa (www. howwemadeitinafrica.com), Tsegaye’s reason for creating Deliver Addis was because he didn’t want to learn how to cook, but the mission grew to be much greater than that. For Tsegaye, launching this new venture was not only a way to generate new jobs in his home country, but also change the structure of dining culture for Ethiopia as a whole. “What really prompted me to pursue this was the fact that we were creating a completely new industry that did not exist in Ethiopia,” he told How We Made It in Africa. “It’s about getting customers what they want in the convenience of their homes and offices. It’s also about generating business for small and medium enterprises – like restaurants 70
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that cannot afford space or a good location – and creating jobs for young people as back-office staff or drivers.” Face2Face Africa reports businesses across Africa that are being operated solely online are quickly becoming more popular with consumers. This is largely attributed to the spread of Internet connectivity across the continent. Being a pioneer in such an Internet-focused part of the e-commerce sector wasn’t an easy feat for Tsegaye in Ethiopia. Coupled with power outages, absence of addresses, and the country’s Internet penetration being low at the time of his company’s launch, this business model proved to be quite the challenge. “Our first internet shutdown was when I was on a flight to the US,” he recalled to How We Made It in Africa. “As an e-commerce business, that’s pretty much the worst possible thing that can happen – and I wasn’t even there when it happened.” Nonetheless, he managed to prevail and now controls a big share of the market. According to Face2Face Africa, Tsegaye secured additional funding from the Impact Angel Network back in June to increase Deliver Addis’ capacity and efficiency to introduce new products and services while expanding its market share. As the company has continued to grow amid the COVID-19 pandemic, Tsegaye has since expanded Deliver Addis’ platform to include an online marketplace, which allows Ethiopian consumers to shop for groceries and other essential items online. For more information about Deliver Addis, visit its website (https://deliveraddis.com). https://afrotech.com/entrepreneur-feleg-tsegaye-launchedethiopias-very-first-online-food-delivery-company Photo Credit: Twitter / @fegult DAWN
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Technology/Science
17-Year-Old Wins $400K for Explaining Quantum Tunneling in Science Competition By Cedric 'BIG CED' Thornton THE BREAKTHROUGH PRIZE FOUNDATION has formally announced 17-year-old Maryam Tsegaye has won the sixth annual Breakthrough Junior Challenge science competition. The Breakthrough Junior Challenge is a global science competition that was created to inspire creative thinking about fundamental concepts in the life sciences, physics and mathematics. With the recent coronavirus gripping the world, this was the first time there was a new category on the science of pandemics. “Winning the Breakthrough Junior Challenge is a life-changing moment for me, and presents so many new opportunities that nothing will be the same from now on,” Tsegaye said in a written statement. “I am so humbled to be a part of the Breakthrough Junior Challenge community, and to win this for my school, my teachers, my family, the city, and the country.” Tsegaye has won a total of $400,000 in educational prizes for not only herself but her teacher and her school as well. She will receive a $250,000 college scholarship while her science teacher Katherine Vladicka-Davies, takes home a $50,000 prize. The high school she attends, École McTavish Public High School, will receive a stateof-the-art science lab valued at $100,000 designed by Cold Spring Harbor Laboratory. “Congratulations to Maryam, who truly shines as an exemplary science communicator,” said Julia Milner, co-founder of the Breakthrough Junior Challenge. “Maryam created a unique, one-of-akind video that explained a complicated scientific theory using relatable terms and humor—an impressive feat.” “Science was at the forefront this year, and it’s 71
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important that the next generation of students understands its impact and significance in our world,” said Sal Khan. “Maryam and all of the impressive finalists demonstrated a keen appreciation for science. Khan Academy is proud to partner with the Challenge to expand minds all over the world with deep ideas in science and math.” “Through the years, I’ve been inspired by the high quality of the Breakthrough Junior Challenge videos, and this year was no exception,” said Scott Kelly, retired NASA astronaut and Breakthrough Junior Challenge judge. “Maryam’s video is a prime example of how to cleverly simplify a complex idea, and she provided a remarkable explanation of quantum tunneling. Congratulations to Maryam, her teacher, her school, and all the students who will benefit from the new lab.” Since 2015, the Breakthrough Junior Challenge has reached 202 countries. The year’s installment attracted more than 5,600 applicants from 124 countries. www.blackenterprise.com/17-year-old-wins-400kfor-explaining-quantum-tunneling-in-sciencecompetition Breakthrough Prize Foundation: www. prnewswire.com/news-releases/breakthroughprize-foundation-announces-studentwinner-of-sixth-annual-breakthrough-juniorchallenge-301185973.html Image credit: Screenshot DAWN
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Technology/Science
A Teenager from Namibia Invents a “SIM-Less” and “Airtime-FreeE” Phone By Abu Bakarr
Jalloh Inspiring African Stories
THE INVENTION OF A SECONDARY school student named Simon Petrus got Namibia’s social media abuzz for the right reasons. Simon Petrus created a mobile phone that works with radio frequencies, no sim card nor airtime credit required. Calls can be made to anyone, anywhere, without interruptions, as long as they are done in an area with radiofrequency. The invention, which took two years for him to complete, was put together using scraps of old television and mobile phones, and required over $2,000 funding from his unemployed parents who sacrificed a lot to ensure their son’s project was successful. Other than the sim-less phone, Petrus’ invention is a whole unit comprising of the working radio, television, the light bulb, a fan, and a socket. According to reports, the phone is not Petrus’ first invention. In 2015, the young man won first place at a competition for young innovators in Namibia for creating a machine that doubles as a seed drier and a cooler. Simon Petrus clinched won first place at the regional level for his “free-to-call” phone in 2016. 72
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“When he won in 2015, some judges thought that there was an engineer at home who was helping him. But the only help he has is from us the teachers here at school. He came up with his project,” Taimi Vatileni, Petrus’s science teacher told New Era. Vatileni also described the young inventor as an average student “in general”, but one who led his peers in the sciences. Petrus aspires to become an electronics engineer after school. Indeed Namibia is currently boasting a good number of young innovators and a variety of revolutionary projects. In 2015, a Namibian student, Gerson Mangundu, developed the country’s social network site – Namhook (https:// namhook.net). In 2014, Josua Nghaamwa built a satellite booster with scraps to enhance internet connectivity in the rural areas of Namibia where there are weak signals. Also, at Abraham Iyambo Senior Secondary School (https://en.wikipedia.org/wiki/Dr_Abraham_ Iyambo_Senior_Secondary_School), where Simon Petrus is a student, a young lady, Adreheid Hamutumwa made a bath soap with indigenous plant roots and animal fat. Her invention won third place at the regional level of the NamPower competition (www.nampower.com.na) for innovators in 2016. https://the-african-dream.com/2021/01/18/a-teenagerfrom-namibia-invents-a-sim-less-and-airtime--freephone DAWN
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Technology/Science
Calendly, the Black Owned Scheduling App, Just Raised $350M, and is NowValued at Over $3Billion By Tony O. Lawson
Tope Awotona
CALENDLY IS A BLACK-OWNED scheduling app, designed to make the process of finding meeting times easy. Currently, about 10 million people use the platform on a monthly basis. Today, Calendly (https://calendly.com) announced that they have closed a $350 million investment which now values the company at more than $3 billion. OpenView Venture Partners, along with new investor Iconiq Capital, were part of the investment. Tope Awotona founded Calendly in 2013. Since then, the Atlanta based company has been very popular and very profitable. Last year, the company made about $70 million in subscription revenues and is projecting revenues will get to $1 billion in the near future. The investment will be used to provide liquidity
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for early shareholders and employees as well as continue product innovation, according to the announcement. The software startup also added two new senior executives at the end of 2020 to grow its employees and revenue. “Our profitable, unique, product-led growth model has led to Calendly becoming the most used, most integrated, most loved scheduling platforms for individuals and large enterprises alike,” said CEO Tope Awotona. “While we considered outside investment an unnecessary distraction, we made the decision to partner with OpenView and Iconiq because of their insight and extended network within the tech industry.” https://shoppeblack.us/2021/01/black-ownedscheduling-app-value-3billion/ Image credit: www.acuityscheduling.com DAWN
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Lifestyle/Culture
An Audiobooks App will tell Unheard African Stories By Rochelle Beighton and Rachel Wood, CNN
AFRICAN COUNTRIES HAVE A LONGSTANDING tradition of oral storytelling, used to entertain and educate younger generations about culture and history. Now, tech entrepreneur Herman Chinery-Hesse, known for establishing SOFTtribe (softtribe.com), Ghana's largest software company, wants to to keep this tradition alive through a new audiobooks app. Afrikan Echoes is due to launch in March, featuring up to 50 original and unpublished African works that have been translated into multiple African languages, including Yoruba, Amharic and Swahili. The Ghanaian innovator says his platform will allow people from all walks of life to tell their untold tales on the international stage. African storytellers from across the continent will be able to pitch their stories to Afrikan Echoes by sending voice notes in their native language. These pitches will be evaluated by ChineryHesse's creative team before being recorded in their studio. Available on Android, with each story costing $1 to download, the app will feature a variety of styles, from action and autobiographies to history and romance. "In today's world, the oral tradition can be translated into electronic audio," Chinery-Hesse tells CNN. "So suddenly, we have Africa's oral tradition on steroids, which is what we are trying to achieve here." "We would like a situation where non-Africans can listen to African stories told by Africans, in an
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African way," he adds.
Reaching rural areas According to data released by the World Bank, around 65% of adults in sub-Saharan African are literate, compared to over 84% globally. ChineryHesse believes Afrikan Echoes will allow Africans who cannot read the opportunity to consume stories from the continent. His vision is that one day, "if you drive into an African village, you'll be able to find everyone sitting at the back of the chief's house, speaker on, with an audiobook playing about some event in another African village, in another African country, and they're all listening attentively," he says. Reaching customers living in rural areas without access to the internet or mobile data is one of Afrikan Echoes' biggest challenges. According to International Telecommunication Union estimates, in 2019 only 28% of Africans used the internet. That's why Chinery-Hesse is creating a model that allows people to share audiobooks while offline. He says this could work through an in-app button which will allow some people to bulk buy audiobooks and then distribute them to others via Bluetooth. Afrikan Echoes also uses SMS texts to alert registered customers to the latest audiobook releases. DAWN
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Funded by SOFTtribe, Afrikan Echoes currently runs out of Chinery-Hesse's home in Freetown, Sierra Leone, and is stocked with recording equipment that is used to record up to five stories a week. Chinery-Hesse says the startup has spent under $100,000 to launch and that he purposefully avoided fundraising to ensure the company remained entirely African-owned.
Overcoming language barriers Michala Mackay, the chief operating officer and director of the Directorate of Science, Technology and Innovation in Sierra Leone, predicts the app will improve digitization in Africa, as well as educating children and giving people opportunities to tell stories the African way. "One of the constraints in being able to sell our stories is the language barriers that we have," she tells CNN. "Afrikan Echoes gives you the opportunity to tell your story as you know it, in another language that somebody else in another 75
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country whom you have no connection with, can understand, learn from, and be able to experience the same experiences that you have." "You could be a fisherman that's uneducated, has never gone through the doors of any schoolroom, but be able to tell your story," she adds. Among the unpublished authors telling their story on the app is Frank Karefa-Smart, whose story recounts his colorful life working in New York during the time of the civil rights movement, and across West Africa in the diamond trade. Chinery-Hesse hopes that stories such as these will connect the continent in a unique way. "The stories we are going to produce are coming from all of Africa. It's not city to city. It's mobile phone to mobile, so village to village. The whole world gets to watch and hear African stories from Africans across the continent," he says. www.cnn.com/2021/01/16/africa/afrikan-echoesaudiobooks-africa-spc-intl/index.html Image credit: cnn.com
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Lifestyle/Culture
How One Muslim Woman is Normalizing the Hijab Through Comics By Tasmiha Khan IN A TIME WHERE the hijab is politicized, Huda Fahmy, a Muslim American author and illustrator, found an innovative way to satirize the reactions to the traditional Islamic head covering while also attempting to normalize it: cartoons. The author of two books — That Can Be Arranged: A Muslim Love Story, and her most popular work to date, Yes, I’m Hot In This — Fahmy uses comics as a way to dismantle stigmas towards women who observe hijab. While she does not think her book will cure Islamophobia, Fahmy believes telling her story is important, especially during the Trump era, when the climate of fear and ignorance seems like it's at an all-time high. “The more people are exposed to authentic marginalized voices, the less they fear them,” Fahmy tells Shondaland. A former middle and high school teacher, Fahmy was inspired to begin writing about her experiences after Donald Trump was elected and enacted the Muslim Ban shortly after taking office in 2017. After taking a break from work to stay home with her infant son, Fahmy’s sister encouraged her to share her work online. “He was taking so many naps, that I felt that there was nothing for me to do,” Fahmy recalls, noting she originally scanned and uploaded drawings to her blog before sharing them on Facebook, and eventually Instagram where she now has over 300,000 followers. “Islamophobia has been increasing much more due to social media,” she continues. “There were more open calls for Muslim voices and authors. I started noticing more hijabis in other non-Muslims’ comics. As a Muslim hijabi, being represented 76
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felt great. I collected essays of my personal experiences as a hijabi, and my sister asked me to turn one of my stories into a comic. All of that combined inspired me to write comics about my hijabi experiences.” Being raised as Muslim American woman in the United States is riddled with nuance — especially if you are the daughter of immigrants. But what Fahmy’s drawings provide is different from the mainstream portrayals we usually see. Through her work, Fahmy also gives readers different windows into her life — from marriage and parenting, to fasting during Ramadan and the racism and xenophobia she experiences — that many Muslim Americans can relate to, and non-Muslims may be learning about for the first time. This content is imported from Instagram. You may be able to find the same content in another format, or you may be able to find more information, at their web site. “I was born in America. My mother is Syrian and my father is Egyptian. They moved to America when they were young. They’ve been here longer than they’ve been in their home countries,” Fahmy says of her background. DAWN
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“They tried so hard to assimilate us in the beginning. They were scared that we would be targeted because they were targeted,” she says. “A war was going on when they first moved [to America] and my mom used to wear the niqab. She used to be followed home by people. She had newborn babies and my dad told her that she needed to take her niqab off and that they needed to move to a city where there are more Muslims to protect themselves. They wanted us to have the best education and they stopped talking to us in Arabic.” After witnessing her parents’ struggles, Fahmy is proud to embrace her roots, but is also very open about her experience as a Muslim American woman. What I hope people take from my comics is that we aren’t perfect. Allow us to be who we are without caging us in boxes. “I put my work out, hoping people think it’s funny. I have a lot of anxiety and stress and I incorporate that into my work,” she says. “I taught English, I’m a mom, I went to law school for a year before I left. I had a tumultuous relationship with my parents growing up.” Her vulnerability is why Fahmy’s work resonates with hijabi women of all walks of life. “Ignorance and anti-Islam propaganda has put pressure on Muslim communities to try to prove themselves by breaking stereotypes, being hip and cool, being the ‘first hijabi’ this and that,” says Sara Alattar, a medical student who is also an artist and a fan of Fahmy’s comics. “We supposedly need to break through with stacks of accomplishments in order to be accepted and truly appreciated as Americans. However, this subtly pushes the notion that people need to be productive for their society in order to be respected and owed human rights.” Alattar continues. “What I’ve loved about seeing Muslim women creating comics lately — especially Huda Fahmy — is their capture of the everyday and the mundane. A humorous look into a Muslim American’s life through these panels reveals that it’s not a wildly different life, and it defies the expectations of an audience eager for something exotic and alien.” This content is imported from Instagram. You may be able to find the same content in another format, 77
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or you may be able to find more information, at their web site. Fahmy uses her comics to not only to dispel myths about Muslim Americans, especially women who wear the hijab, but also share how similar their experiences are to non-Muslims, too. “Muslims are different. I’m not allowed to be mediocre. As minorities, we have to excel at everything. It’s so hard because if you mess up once, you’re done,” Fahmy says. “What I hope people take from my comics is that we aren’t perfect. Allow us to be who we are without caging us in boxes. I want to showcase myself as a Muslim in different scenarios so people can realize that Muslims go through similar life scenarios as nonMuslims. Not all of this is related to Islam.” Comics, like all visual art forms, tell a story about the people who make them. I want to showcase myself as a Muslim in different scenarios so people can realize that Muslims go through similar life scenarios as non-Muslims. “I love the medium and have read comics since I was a kid, so seeing Muslim women making a name in comics is wonderful and inspiring,” says Katie Haseeb, an educator and artist. “Comics by Muslim artists are a truer form of representation than what we see in other forms of media. Independent comic artists are not beholden to brands or companies, and can therefore offer a truthful and personal form of expression that doesn't compromise one's faith or values. Comics about hijab written by Muslim women, like Huda Fahmy, are so refreshing because it's our stories being told by US, rather than a creative team trying to awkwardly shoe-horn a hijab wearing woman into an ad campaign for the sake of diversity. The art form is also super accessible and has an incredibly wide reach because of social media.” With so much misinformation about the hijab and discrimination against women who choose to wear it, Fahmy is changing the way Muslims are perceived through her work. And while there is no singular Muslim experience, Fahmy is sparking conversations and opening eyes through her comics. www.shondaland.com/inspire/books/a34908947/ how-one-muslim-woman-is-normalizing-the-hijabthrough-comics DAWN
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Lifestyle/Culture
Adopted African American Woman finds out She’s a Princess from Sierra Leone By Parker Diakite
AT THE AGE OF 28, Sarah Culberson began searching for her biological family. Through her search, she found out that she is related to African royalty in Sierra Leonne. Culberson is from the Mende tribe in Bumpe, Sierra Leone, where she is considered a mahaloi, the child of a paramount chief. This makes Culberson the princess of the Bumpe village. The Mende are one of the two largest ethnic groups in Sierra Leone, accounting for roughly 33% of the country’s population. Culberson noted that her title didn’t mean an inheritance of wealth. Instead, it came with immense responsibility. “My only guidance of what a princess was what I saw in movies,” Culberson told NBC News during an interview. “[But] it’s really about responsibility. It’s about walking in my great-grandfather’s and grandfather’s footsteps and what they’ve done for the country. I realized that’s my role as a princess to keep moving things forward in the country. 78
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Culberson and her biological brother Hindo Kposowa launched the Kposowa Foundation, now called Sierra Leone Rising (www.sierraleonerising.org), in 2006 to rebuild Bumpe High School and promote education in the country. The princess was adopted and raised by a white family in West Virginia, said they are not surprised by her passion to help people. “Sarah was an outgoing, people-meeting, 1-yearold when we adopted her. She is still that same outgoing person who genuinely loves and enjoys almost everyone she meets,” her adoptive father, James Culberson, said. Culberson is also a published author. She wrote about her journey in the book "A Princess Found", (www.amazon.com/Princess-Found-American-ChiefdomConnected/dp/B005SNGV02) which will serve as the
basis of a new movie produced by Stephanie Allain. https://travelnoire.com/adopted-african-americanwoman-princess-sierra-leone Image credit: Monika Sed / Instagram: @ iamprincesssc DAWN
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Lifestyle/Culture
A 23-Year Old Created an Animated Series About a Tanzanian Family in America By DeAnna Taylor
We love to see it, especially from young creatives. 23-year old Zul Manzi, born in Springfield, MA, created an animated series from his own life experiences growing up. The Matumbila’s is a comedy that highlights the clashes that Tanzanian parents have with their first-generation American children, while living in middleclass America. The show began production in 2019, and is streamed on Black-owned network KweliTV. In less than a year, the show has made its way into a consistent top 10 spot for the network. “I began drawing and writing little short stories in elementary school, but then I started to develop an interest in animation around the 3rd grade,” Manzi says on his website.
To learn more about Zul and his production work, you can check out his website: https:// zmasterproductions. com.
Additionally Manzi mentions that his mission is to create content formed by his own personal narrative. 79
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https://travelnoire.com/ animated-series-abouttanzanian-family-inamerica Image credit: Photo by Abdul-Karim Manzi, zmasterproductions.com DAWN
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Lifestyle/Culture
Universal Music Group Announces Strategic Leadership Appointments within Africa By Motolani Alake ON JANUARY 4, 2021, UNIVERSAL MUSIC GROUP, the world leader in music entertainment, today strengthened its position as the leading music company in Africa by announcing a strategic expansion of its Sub-Saharan Africa leadership team. These appointments underscore UMG’s ongoing commitment to support and grow Africa’s domestic music ecosystems, while also creating new opportunities for African talent to reach new audiences globally. To complement UMG’s longstanding operations in South Africa, it has also established divisions in Kenya, Côte d’Ivoire, Senegal, Cameroon and Morocco. This presence will continue to grow throughout 2021 and beyond, as UMG continues to further extend the company’s ability to support domestic artists across Africa and globally. To help lead this expansion, Sipho Dlamini has been promoted to CEO, Universal Music South Africa and Sub-Saharan Africa, effective immediately. Dlamini will continue to oversee all of UMG’s operations within English-speaking Africa. Since joining UMG in 2016, he has been instrumental in solidifying and growing UMG’s African infrastructure, increasing the visibility of African music around the world and delivering unprecedented artist success in South Africa. During this time, UMG has also led the industry with new initiatives across live music, brand partnerships and the adoption of licensed and legal streaming platforms within Africa. Dlamini is a member of UMG’s Task Force for Meaningful Change (TFMC), which was created last year as a driving force for inclusion and social justice within the global music industry and serves as chair for the TFMC’s Global Committee. In his new role, Dlamini will continue to work closely with Adam Granite, UMG’s EVP, Market
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Development, to identify further opportunities for artists signed to Universal Music Africa to reach new audiences around the world, utilizing UMG’s unrivalled global network of industry-leading businesses spanning more than 60 countries worldwide. Within South Africa, Dlamini has been joined by hugely experienced senior executive Elouise Kelly, who has been appointed Chief Operating Officer, Universal Music South Africa and Sub-Saharan Africa. She will be based in Johannesburg and will report to Dlamini. Kelly Joins UMG from global advertising and media agency Ogilvy, where she held the position of Managing Director, South Africa. With a proven and award-winning background in branding, marketing, communication and commercial business strategy, she will play an integral role in the further expansion of Universal Music Africa and its operations and label divisions. Prior to working at Ogilvy, Kelly held senior positions at SABC, Top TV, Viacom International Media Networks and M-Net. In addition, Chinedu Okeke has been named Managing Director, Universal Music Nigeria and will lead the development and expansion of UMG’s existing operations within Nigeria, and further English-speaking markets in West Africa. He will be based in Lagos, Nigeria and will report to Dlamini. Okeke joins UMG having established himself over the last decade, as a successful business and live-music entrepreneur. He is the founder of Eclipse Live – A Live entertainment company focused on bringing live affordable entertainment to the youth of Africa and Eclipse Brand Agency, working with major clients, artists and commercial partners. He is also the founder and Executive Producer of Nigeria’s legendary Gidi Culture Festival,
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(l-r) Sipho Dlamini, Chinedu Okeke and a founding Trustee of Echo Music & Arts Foundation, and previously held positions at The Wicklow Group, Canvest Group & AP Moeller Maersk. All three will work closely with French-speaking operations in Côte d’Ivoire, Senegal, Cameroon and markets within the continent, which operate under the leadership of Franck Kacou, Directeur General, Universal Music Africa. UMG is also working closely in partnership with parent company Vivendi, and several of Vivendi’s divisions, including CanalOlympia, Olympia Production, Vivendi and Canal+ to support and develop the live music industry throughout Africa. Announcing the changes, Adam Granite said, “I am thrilled to announce these strategic appointments, as we look to further develop our domestic infrastructure and label rosters within Africa. "Most integral to achieving our long-term ambitions, is to build a strong leadership team on the ground, with deep foundations in each country to help grow a dynamic ecosystem for all to benefit in the future. “Over the past few years, Sipho has shown great leadership, commitment and vision for music in Africa, helping UMG to introduce new talent to audiences around the world and identify opportunities to lead the industry in licensing and supporting new platforms to reach African music fans. "Elouise and Chin both bring welcome new skills, proven entrepreneurship and important leadership experience that will only serve to bolster UMG’s position as the market-leader across Africa.” Sipho Dlamini said, “There has never been a more exciting time for African music around the world, as it continues to influence and inspire
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culture and creativity, whilst reaching a wider audience globally each day through streaming. "I am delighted to welcome both Elouise and Chin to the UMG family, their unique skills and experiences will only help to further establish UMG as a bedrock within the African music community, that will continue to put the interests and opportunities for artists first and help elevate African talent to new levels of success at home and abroad.” As part of UMG’s strategy, the company is helping African talent reach new audiences internationally. In 2018, UMG became the first major label to license its catalog to Boomplay, Africa’s largest local streaming platform. Last year, UMG released several albums by African artists globally, including: • Celia from Nigerian Afrobeats star Tiwa Savage (released in partnership with Motown Records U.S.) and South African rapper Nasty C’s – Zulu Man With Some Power (in partnership with Def Jam Recordings in the U.S., Island Records U.K. and other Universal labels around the world); • Midnight Train from Kenya’s Sauti Sol; and • Old Romance, the debut album release from Nigerian singer/producer Tekno, who is signed to Universal Music Nigeria in partnership with Island Records in the U.K. and U.S.
UMG also agreed a strategic partnership between Nigeria’s Aristokrat Records and Universal Music France and launched Def Jam Africa as a standalone label on the continent, with resources across five countries, dedicated to discovering the best in African Hip-Hop, Afrobeats and Trap music. www.pulse.ng/entertainment/music/universalmusic-group-announces-strategic-leadershipappointments-within-africa/j1p3ps8
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Lifestyle/Culture
The Associated Press Names Naomi Osaka Female Athlete of the Year By BOTWC Staff
TENNIS SUPERSTAR, NAOMI OSAKA, has added another trophy to her mantle after being selected for The Associated Press Female Athlete of the Year. She's named alongside Lebron James who was voted in as The Associated Press Male Athlete of the Year for their actions on and off the court. She was selected, receiving 18 of 35 first-place votes and 71 points. As previously reported, Osaka won her third Grand Slam title this year - following an 11-match winning streak - and used her platform to highlight civil injustices. 12-time Grand Slam singles title winner, Billie Jean King, told the AP that Osaka has positioned herself as a leader in women's tennis, sports, and a changemaker in our society. "She successfully completed the difficult task of taking excellence in sports performance and using that platform to succeed outside of sports on a much bigger stage," King told reporters. "She ignited a conversation on social justice, the results of which were bigger than tennis, larger than sports, and in doing so raised the bar for all those who want to leverage the gifts and talents we have to make a difference in our world." One of the defining moments of her year came during a tuneup tournament in New York. Osaka announced she wouldn't play her semifinal in solidarity with NBA players protesting Jacob Blake's death, which led the entire tournament to shut down for the day. Then, during the U.S. Open, she arrived for matches wearing the names of Black victims of violent white supremacy: 82
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George Floyd, Breonna Taylor, Blake, Tamir Rice, Elijah McClain, Trayvon Martin, Ahmaud Arbery, and Philando Castile. "It was difficult to be isolated from my family for large parts of the year, but that's nothing compared to others. It was sad to watch and read the news of people suffering from COVID-19, and the economic and social effect on so many — losing jobs, mental health. It was such a tough year for so many people," Osaka wrote in an email interview. "And then watching the police injustices like George Floyd, Breonna Taylor, and Jacob Blake (to name just a few) in the summer broke my heart. I am proud of my U.S. Open victory, but more so that I got people talking about the real issues." DAWN
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▲ Naomi Osaka LeBron James
The 23-year-old Japanese-Haitian American tennis plater told AP it was the right time for her to speak up. "There are clearly so many worthy issues. This one especially resonated with me because of my own personal upbringing; and also, while the tennis tour was paused, I was able to watch and read news at length for the first time in my life. This summer in the U.S., tensions were high and reached boiling point," Osaka said. She told reporters she never stopped to think about what others would think because it wasn't
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going to stop her from doing the right thing. "The strong voices of Colin (Kaepernick) and LeBron were certainly positive influences for me and gave me strength in my own convictions," Osaka said. For the new year, Osaka said her goals are to "work hard, do better, speak up, be kind." You deserve it, Naomi! www.becauseofthemwecan.com//blogs/news/theassociated-press-names-naomi-osaka-femaleathlete-of-the-year Image crredit: nba.com DAWN
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History
How Did We Come by the Name ‘Africa’? – Is it a Foreign Import? By NII NTREH | Associate Editor themselves do not beg the curiosity of most, even the avowed well-wishers of said places. Perhaps, it is very human to not have to wonder about the meaning of a place-name. We tend to find meaning and our connection to these places after we are thrust into that space by fate. This may well be a forgivable existential deficiency but in a related discourse, the etymology and etiology of continents such as Europe and America are not as discreet and controversial as Africa’s. Africa is spelled as such or with a ‘k’ instead of a ‘c’. This even reveals a disparity in how the continent is appreciated. Those who cling to the ‘k’, often Rastafarians and others of extremely Afrocentric persuasion Sebastian Münster’s map of Africa in 1554. Photo Credit: (sometimes called hoteps), claim that Princeton University Library Afrika was the spelling endorsed by the continent’s natives prior to colonization by Africa‘s primordial role in the inception and the Europeans. The globally-acclaimed Africa is sophistication of the human race has been superbly therefore usurpation. But this claim is problematic documented for so many decades; sometimes out for two reasons. First, spoken language, which precedes writing, of genuine anthropological and biological curiosity is phonetic and not alphabetic. Writing is an attempt and other times, because of racism. We have been told that the first ancestors of to formally render sound discernible in other the human race were formed on the continent. ways other than through the ears. Alphabets are So were the earliest attempts at human self- characters written to capture the qualities of speech preservation and community made in the east and sounds. To that effect, spelling the continent’s south of the continent more than one million years name with ‘c’ or ‘k’ can honorably be dismissed as a ago. The cradle of human civilization as it is called, matter of style not Africa’s meaning to the general human story is not and substance. in debate, largely. On the other hand, however, what the name of Substantially, the continent means and how we came to call it the way in the ‘Africa’ are two of the least-raised and answered which name is questions about the mother continent. Frankly, toponomastics, the research into the meaning of m e n t i o n e d place-names, is not the most popular branch of can be seen more the historical sciences except when a place-name as is so out of the common that it begs our curiosity. important. Second, if The names of countries and continents 84
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we are to believe that Afrika is how the continent was spelled before 15th-century Europeans invaded and changed it, we would be making a claim that is anachronistic as it is embarrassing. It is embarrassing simply because we would imply by such belief, to not know much about the history of the internationalization of the phonetic alphabet. It would be anachronistic because the international phonetic alphabets are not based on African history and culture. They are based in Latin. Neither ‘k’ nor ‘c’ was originally African until Europeans started verbalizing African languages for their own benefit as well as for the sake of standardization. Unless of course we would like to claim the Latin alphabets were borne out of the Egyptian hieroglyphics. Technically, that is true since the very ancient Mediterranean civilizations learned from one another, as humans usually do, and the Egyptians preceded the Romans. But between ancient Egypt and the Romans were tens of thousands of years, so much so that the final form of the Latin alphabets looks nothing like the pictorial Egyptian hieroglyphics. Arguing that the ‘k’ spelling is a moral rebellion against Eurocentrism leaves so much to be desired if we aim to be intellectually honest. Then again, that is not the most critical problem. How did we come by the name of the continent? Theories abound in this regard. According to the first-century common era Jewish historian Flavius Josephus, Africa is named for Epher, that biblical grandson of Abraham mentioned in Genesis 25:4. The medieval Iberian author Isidore of Seville claimed Africa comes from the Latin aprica, or ‘sunny’. O u t of the culture of the Dogon o f West Africa, there comes a theory 85
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Sebastian Münster’s map of Africa in 1554. Photo Credit: Princeton University Library that Africa is the corruption of Afraka which means ‘soul of the first-sun’. The Afrocentric author Ivan Van Sertima took after the English poet and Egyptologist Gerald Massey who alleged that Africa comes from afru-ika, which meant ‘toward the opening of Ka (the eternal universal energy in ancient Egyptian culture)’. Massey, and thus Sertima, conclude that this translation means the phrase was used to denote the continent that is thought to have given life to all – the birthplace or motherland. The difficulty with informing ourselves on this topic is that it is deeply polarizing as Africa exists in unavoidable tension with Europe, the place from which Africa’s plunderers came. As Frantz Fanon would have it, African or Black from Africa is defined in opposition to whiteness from Europe that has for centuries destroyed the former. But the tension is not entirely between Africa and Europe but also among Africans and Africans in the diaspora. The Hegelian task of self-determination for those who have been suppressed and enslaved has historically motivated factionalism. Two hundred or see page 86
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History History from page 85 so years ago in the New World, we learned of the tension between the house negro and field negro. These days, we learn of the tension between those who are passionately Afrocentric and those who are accused of not being enough. The seemingly simple problem of charting the historical path of the etymology of Africa suffers from the ginormous political problem of Afrocentrism and how much of it is permissible. While the likes of Sertima are accused of motivated reasoning, those who are on the other side of the debate are accused of having been brainwashed by westerners. The most-embraced theory of Africa’s etymology is actually a mixture of inland and outland influences. The 19th-century German philologist Karl Ernst Georges, as well as an American lexicographer of the same century, Charlton Thomas Lewis, agree that the name of the continent was taken from afri, adjective after, the name used by Latin speakers to describe the north coast of the continent after the Third Punic War in the second century before the common era. What the name originally goes to refer to is, however, a modern problem. In 1981, Michel Desfayes, a French philologist, theorized that the root word of afri was the Berber speech denotation (word) for ‘cave’ – ifri, mentioned ‘i-fri’. Desfayes further argued that name ifri is demonstrative of the cave-dwelling social existence of the ancients. But before Desfayes theory, it was thought the Latin name came from the Phoenician afar, which meant ‘dust’. Many contemporary philologists agree that the Latin afri was not of Roman creation in the way that ‘Berber’ is linguistically Greek and later Roman. Afri was informed by a phenomenon alien to the Romans. That phenomenon could very well be found on the African continent. What is of complete Roman ingenuity is the addition of the suffix ica. The ancient Romans added ica to nouns to adjectivize lands and people. The suffix was the plural of icus. The Celtae owned Celtica; Britannica is of Britannia; Germanica is of Germania. And Africa is of the Afri. Even still, after the Third Punic War gave the Romans a foothold in the north coast of Africa,
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the term ‘Africa’ was not used in reference to the entire continent of darker-skinned people or even in reference to the entirety of the whole north of the continent. It would take centuries before ‘Africa’ referred to the whole continent immediately south of Europe. Where the forebears of the Europeans called Africa or Proconsularis Africa, is today’s Tunisia and parts of Libya and Algeria. On this matter, one can refer to cartographers from the distant past. The German professor, Sebastian Münster and his map of 1554 show what would be unfamiliar to us in the present day. Münster clearly indicated in his map of the “Extended Descriptive Map of the Whole of Africa” that ‘Africa’ was on the north coast of the continent. Egypt and Ethiopia, two ancient kingdoms, were not seen as ‘African’ in the 15th century. In fact, before the Romans would rise as the power in the northern hemisphere, it was the Greek term ‘Libya’ that popularly described all the lands west of the Nile and Egypt. Where the Greeks and Romans called Libya, the Arabs called Ifriqiya or El-Maghrib el-Adna during the MiddlesAges. Those who were to the south of the Egyptians were the people of the land of Aethiopia, also a Greek invention. But by the middle of the 16th century, Africa as the name of the whole landmass now called home by Africans, was in vogue. Intriguingly, the continent called Africa has been known as such for not more than 500 years. https://face2faceafrica.com/article/how-did-wecome-by-the-name-africa-is-it-a-foreign-import?mc_ cid=1fc23b563b&mc_eid=d15554bd65 Image credit: www.ebay.com, www. positivepromotions.com/Black_History/Month_ Products
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Investment Profile - Mozambique
Republic of Mozambique By Africa Business Association
President Filipe Nyusi The Portuguese-speaking African countries (Portuguese: Países Africanos de Língua Oficial Portuguesa; PALOP), also known as Lusophone Africa, consist of six African countries in which the Portuguese language is an official language: Angola, Cape Verde, Guinea-Bissau, Mozambique, São Tomé and Príncipe and, since 2011, Equatorial Guinea. National Profile of Mozambique Official Name: Republic of Mozambique Government Format: Democratic Republic President: Filipe Nyusi Region: Southern Africa Estimated GDP: US$15.2 billion (2019) Estimated Population: 30.3 million Narrative: Mozambique borders Tanzania, Malawi, Zambia, 87
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Zimbabwe, South Africa, and Eswatini. Its long, Indian Ocean coastline of 2,500 kilometers faces east to Madagascar. About two-thirds of its population of more than 29 million (2018) live and work in rural areas. It is endowed with ample arable land, water, energy, as well as mineral resources and newly discovered natural gas offshore; three, deep seaports; and a relatively large potential pool of labor. It is also strategically located; four of the six countries it borders are landlocked, and hence dependent on Mozambique as a conduit to global markets. Mozambique’s strong ties to the region’s economic engine, South Africa, underscore the importance of its economic, political, and social development to the stability and growth of Southern Africa as a whole. Natural gas discoveries and the recent launching of two natural gas projects have positioned Mozambique as a development hub in the near future: • Expected investment spend over the next five years is estimated at $55bn • We expect these three projects [Coral FLNG, see page 88
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Investment Profile - Mozambique Rovuma LNG and Moz LNG 1] to represent the main driver of capital spending in SubSahara Africa over the next decade, with over USD 55bn of projected capital expenditure. Taken together, they will boost Mozambique’s gas production from a mere 5.4bcm in 2021 to over 50bcm by the end of the forecast period [10 years]
Political Context: The Front for the Liberation of Mozambique (Frelimo) and the Mozambican National Resistance (Renamo) remain the country’s main political forces, followed by the Mozambique Democratic Movement (MDM). Renamo has maintained a considerable arsenal and military bases after the peace accord of 1992, and ever since the end of the civil war, the country has registered flare-ups of armed confrontations and violence. A new peace accord was reached in August 2019, and has been violated several times by a Renamo breakaway military faction known as Military Junta. The new peace deal aimed at achieving greater pacification of the country by integrating Renamo residual fighters into the 88
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national army, and dismantling Renamo military bases splattered around the country. Meanwhile, the government is grappling with another so-called Islamic insurgency in parts of the gas-rich province of Cabo-Delgado. Initially circumscribed to one locality, the indiscriminate killing of civilians perpetrated by the insurgents has now spread to other districts and towns in the province. Recently (March 2020) the rebels attacked and occupied successively the transport hub rural town of Mocimboa da Praia and the town of Quissinga. Recent estimates show the conflict has killed more than 1,000 people and forced 100,000 from their homes. The risk that violence can spread to other areas of the country should not be underestimated. Presidential, legislative, and provincial elections were held across the country on October 15, 2019, completing the country’s sixth successive general elections since the introduction of multiparty elections in 1994. The incumbent party, Frelimo, won the presidency and the national parliament in a landslide. Frelimo also secured a majority in all 10 provinces, thus electing governors for each province. Economic Outlook: The COVID-19 (coronavirus) pandemic reached Mozambique at a weak moment in its economic history, as the country attempted to recover from two major shocks: the hidden debt crisis and the devastating effects of cyclones Idai and Kenneth in 2019. In 2019, Cyclones Idai and Kenneth caused massive damage to infrastructure and livelihoods, further lowering growth and wellbeing of the population. DAWN
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The pandemic presents a further setback on the country’s economic prospects. The pandemic dims the short-term growth prospects of Mozambique. The COVID-19 crisis will have a heavy impact on economic activity as social distancing and travel restrictions (domestically and globally) affect demand for goods and services. At the same time, reduced demand and prices of commodities are slowing the pace of investment in gas and coal, two key industries for Mozambique. With this, growth is expected to decline to 1.3% in 2020, down from a pre-COVID forecast of 4.3%, with significant downside risks. Development Challenges: The country’s main challenges include the macroeconomic stability maintaining considering exposure to commodity price fluctuations, and reestablishing confidence through improved economic governance and increased transparency, including the transparent handling of the hidden debt investigation. Moreover, structural reforms are needed in support of the currently struggling private sector. Another major challenge is diversifying the economy by moving away from the current focus on capital-intensive projects and low-productivity subsistence agriculture, while strengthening the key drivers of inclusion, such as improved quality education and health service delivery, which could in turn improve social indicators.
Scrabble Trivia Mozambique is the only, one-word country to use all five vowels in its name and is the highest scoring, country name, worth 34 points, without extra bonus squares. Image credit: www.amazon.com/toys-games/games
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Investment Profile - Mozambique
Assembly Approves Cabo Delgado Report, Renamo Boycotts
The Mozambican parliament, the Assembly of the Republic, on Thursday approved a report from its working commission on constitutional, legal and human rights affairs on the human rights situation in the country's two areas of conflict. These are the northern province of Cabo Delgado, where the authorities are facing a terrorist organization with ties to the self-styled "Islamic State Central African Province" (ISCAP), and the central provinces of Manica and Sofala, where the dissident "Renamo Military
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Junta" is continuing to launch lethal ambushes against traffic on the main roads. The report concentrates on atrocities committed by the jihadists in Cabo Delgado. "People are murdered and hacked to pieces in front of their relatives and neighbours, as a barbaric form of intimidation", said Commission chairperson Antonio Boene, as he presented the report. The Commission could find no evidence for any similar atrocities committed by the Mozambican defence and security forces, but situations were
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reported "of abuses of power and authority", by the government forces. The main recommendation from the report was the need "to strengthen the logistical and material capacity of the defence and security forces, to confront terrorist attacks that use modern and sophisticated resources". It was also necessary "to boost vigilance so that the people displaced from their homes do not become the victims of terrorists who might infiltrate the accommodation centres and perpetuate fear and terror among the population". Frelimo deputy Alberto Matukutuku confirmed that, up until Wednesday, there had been 11 terrorist incursions against the Cabo Delgado district of Muidumbe. "There are reports of more than 50 people beheaded ", he said, "and of an unknown number of people kidnapped to join the ranks of the murderers and looters". Every day, he added, people are fleeing from the area under terrorist attack, seeking safety in other parts of Cabo Delgado, or in other provinces. "When they escape the actions of the terrorists, the victims risk dying of hunger, cholera or shipwreck", said Matukutuku. Rescuing Cabo Delgado is "a national
imperative", he said, and attacked those who are trying to portray the war as an ethnic conflict. 91
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"Tribalising" the war, he warned, risked pushing Cabo Delgado towards a genocide similar to that which occurred in Rwanda in 1994. Elias Impuiri, of the opposition Mozambique Democratic Movement (MDM), said it was now urgent to strengthen the financial capacity of the Montepuez, Chiure and Metuge district administrations. These districts are not under attack, but they need assistance in order to absorb displaced people fleeing from areas further north. He claimed that international humanitarian organisations are making their assistance for the displaced conditional on the government setting up "internationally accepted infrastructures where those in need can be supported". As for the victims of the attacks by the Renamo Military Junta in Manica and Sofala, Impuiri said "the people tell us they are fed up with paying an exorbitant bill for bad governance that is generating endless conflicts". The delegation from the Commission which visited Cabo Delgado, Manica and Sofala consisted only of Frelimo and MDM deputies. The main opposition party, Renamo, boycotted the commission's work and refused to take up its seats on the delegation. The excuse for this boycott was that Renamo wanted a special commission of inquiry into human rights violations - even though a commission of inquiry would have visited exactly the same places and interviewed exactly the same people as the delegation from the Commission on Constitutional and Legal Affairs. In the Assembly plenary, on Wednesday, the entire Renamo parliamentary group walked out of the chamber, when Boene began reading the delegation's report. The report was thus approved by Frelimo and MDM votes, with Renamo nowhere to be seen. Under the rules of the Mozambican parliament, deputies are free to abstain on a vote, but they cannot simply not vote at all. That is equated with absence, and, if the rules are strictly applied, all the Renamo deputies who joined the boycott should lose a day's wages. https://allafrica.com/stories/202011150182.html Image credit: iom.iot
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Investment Profile - Mozambique
Gorongosa National Park "The Peace Park" GORONGOSA NATIONAL PARK (GNP) in Mozambique is perhaps Africa’s greatest wildlife restoration story. In 2008, the Government of Mozambique and the Carr Foundation formed the “Gorongosa Project”, a 20-year PublicPrivate Partnership for the joint management of the Park and for human development in the communities near the Park. On June 7th 2018, the Government of Mozambique signed an extension of the management agreement of Gorongosa National Park for another 25 years.
Approach By adopting a 21st Century conservation model of balancing the needs of wildlife and people, we are protecting and saving this beautiful wilderness, returning it to its rightful place as one of Africa’s greatest parks. We are achieving our mission by working in these four core areas: Conservation: By protecting Gorongosa’s beautiful animals and landscapes, we ensure future generations have a chance to experience this special place. Community: By providing educational programs, health care, and agricultural support to families– we improve the well-being of local communities. Science: By studying how all the parts of Gorongosa’s complex web of life fit together, we can make informed conservation and management decisions. Sustainable Tourism: By developing sustainable tourism, we create employment for local people and generate sustainable revenue for the Park. Every guest that visits Gorongosa plays a vital role in this amazing conservation effort.
Our Mission Advance an integrated multi-partner approach
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to conservation and to peoplecentred development. The Gorongosa Project protects the Park’s biodiversity and ecosystem services and unlocks its economic potential for the community inhabitants of the Gorongosa Buffer Zone, Sofala Province, Mozambique and further afield.
Our Vision A thriving, biodiversity-rich, Greater Gorongosa conservation landscape, which supports Sofala Province as an engine for resilient and sustainable development enabling nature experiences and wellbeing for its people, enriching all of Mozambique and the world.
A Park for Peace On 1 August, 2019 a historic ceremony was held in Gorongosa to celebrate the Cessation of Hostilities Accord between the leaders of the Government of Mozambique and the opposition Renamo Party. The accord established Gorongosa National Park (GNP) as a ‘Park for Peace’, delivering human development to the communities that share the greater landscape.
Sustainable Development The Gorongosa Project serves approximately 200,000 people living in the Gorongosa National Park’s Buffer Zone. A former hunting concession, Coutada 12 , is being added to the Park, and we hope soon to incorporate the Marromeu Reserve at the Indian Ocean, bringing the stretch of the Park from Mountain to Mangrove. DAWN
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As we expand the conservation areas we manage, our Buffer Zone will grow as well. We anticipate that we will be delivering our human development services to nearly 250,000 people in the near future. Over the next thirty years, we want to lift every family in the Gorongosa Buffer Zone out of poverty. This means larger farms with some mechanization and access to the value-chain, i.e. markets. This means more non-farm employment in service industries, factories and construction. This means investment and planning in clean, 93
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green cities that attract people from underserved rural areas. Gorongosa Park is the economic engine that will drive this positive change.
Coffee Program Our large-scale agroforestry initiative with enduring socio-economic and environmental benefits. The program targets one of the most important hotspots for biodiversity in the region and one of the most politically contentious areas in Mozambique. Gorongosa Coffee works with local see page 94
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farmers and their families living in three remote communities. These communities all endorse a common vision of the integrated relationship between sustainable land use, community development, and conservation value. We are currently selling our coffee internationally (https:// ourgorongosa.com/ collections/roastedbeans).
Cashew Program
A broad range of interventions throughout the value chain from input provision, production, processing and marketing. Furthermore, the program addresses sustainable productivity, income and resilience, while also preserving biodiversity through agroforestry. Since inception of the project in 2017, the program established four cashew nurseries with capacity to produce 250,000 seedlings, trained 1,414 farmers, and distributed approximately 135,000 cashew seedlings and 7,000 kg of Fertilizer (SSP) to beneficiaries.
Honey Program We promote sustainable beekeeping practices, as environmentally friendly and high income potential enterprise for small-holding farm families. We help create sustainable livelihoods for communities while contributing to improve conservation of biodiversity and delivery of ecosystem services in the greater Gorongosa Landscape. Since inception, we have trained 135 professional beekeepers through 17 Lead beekeepers, distributed 666 hives, and helped create an effective biocontrol of humananimal conflict, using bee-hive fences in dozens of 94
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locations.
Eco Tourism The Ecotourism program aims to create an experience in nature that is transformational; exposing guests to the awe-inspiring landscapes and wildlife of Gorongosa National Park. The key activities of this program include: skills building and training for local staff, developing tourism infrastructure and promoting Gorongosa and Mozambique as a tourism destination. The creation of a thriving tourism industry in Gorongosa not only contributes towards the long-term sustainability of the Park, but contributes to the overall attractiveness of Mozambique, and particularly the protected areas around the country.
Sustainable Forests We have recently received project funding from
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the Global Environment Facility (GEF) to start engaging with the local communities in setting up community conservancies, which could potentially sustainably manage and utilize their forest resources. Forests play a fundamental role in providing a number of ecological and environmental services, such as carbon sequestration, water purification, erosion control, clean air, as well as ensuring food security.
Gorongosa’s Wildlife Rangers The Park’s flora and fauna have rebounded in the years since the end of the civil conflict, and especially since 2004, when the Gorongosa Project started. Substantial problems remain, and in addition to scientific research and human development, the Park is committed to enforcing Mozambique’s progressive conservation law aimed at conserving the future of biodiverse ecosystems 95
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throughout the country for wildlife and for the people of Mozambique. Much of the work of conservation in Gorongosa depends on and is entrusted to Law Enforcement – a team of 260 trained rangers led by Tsuere Buramo (Head of Law-Enforcement) and pilot Alfredo Matevele (Deputy Head of LawEnforcement), both Mozambican. Gorongosa, like many other protected areas around the globe, faces challenges, particularly in the areas of the illegal trade in wildlife (ivory, pangolins, skins and bushmeat) and timber. Fighting these activities are the 260-strong men and women – trained as law-enforcement officers. All our rangers are rigorously selected, and trained including in conservation and human rights law. A number of our top rangers have been awarded see page 96
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local and national awards for their outstanding service and also participate in various advanced trainings aboard each year. Currently the team patrols over 11,900 km2 of habitat spanning the Park, including an additional adjacent to the Zambezi River north of the Park (since 2018) and the surrounding buffer zone around the Park. With the addition of new rangers, our efforts continue to expand to include several areas adjacent to the Park as part of a long-term vision to extend wildlife corridors “from Mountain to Mangrove” with a mosaic of Park, community conservancies, and sustainable forestry. Rangers in addition to patrolling the landscape, are also instrumental in mobilizing local leaders and educating local communities. Many of the rangers are from the communities that they serve, helping establish long term trust. For example, post-cyclone Idai in March 2019, rangers were among the first reaching flooded communities to provide food and medical support to affected families. They are dedicated to the wellbeing of both Park and people. As a result of our careful screening and training rangers, we now see tangible results from our efforts – the number of snares and gin-traps found within the Park perimeters declined by more than 60% over the past few years, and and during this time a number of perpetrators involved in ivory smuggling, illegal logging and pangolin poaching cases were caught and prosecuted. Mozambique has generally been in the headlines for more organised and large-scale wildlife and forest crimes, and is considered one of the most important transit countries to the Far East for illegal wildlife trade. We strongly believe that our concerted efforts can have an impact on other areas in Mozambique, and we are proud to have a good working relationship in this regard with other parks and the Mozambican Protected Areas Authority. We have a very dedicated team and are proud of all our conservation achievements.
park in Mozambique. By identifying the animals that you see in the photos, you'll help track their continued recovery. Read on for instructions on how you can help! Select all animals you see in each photo Use the buttons to the right of the photo to pick any animal that you see in the photo; then, select the appropriate number and behavior of the animals. Mark all behaviors that you see any animal of that species engaging in. Keep adding classifications WildCam Gorongosa until you have described every animal in the image. In WildCam Gorongosa (www.zooniverse.org/ Use the buttons to narrow down options projects/zooniverse/wildcam-gorongosa/classify), you'll If you don't immediately recognize an animal, you be exploring photos from camera traps in a national 96
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can use the buttons above the animal list (pattern, color, etc.) to narrow down your choices and figure out what you're looking at. For most animals, the species description also offers a useful comparison with other species that are commonly confused with that animal. Don't worry if you're not 100% sure If you see an animal, please mark it, even if you're not sure, or have no idea what it is! Many people will see each photo, so errors will be filtered out. Additionally, if there is a lot of disagreement about what is in the photo, one of the researchers will probably take a look. This is why there is no "I don't
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know" button. Please just take your best guess! Join the community and learn more! That's it! You're ready to start exploring Gorongosa! If you'd like to learn more about the project, you can visit the About page or the Blog. And if you have any more questions, or just want to chat about the project or share a cool image you found, please join us on the Talk forum. Thank you for your help! https://gorongosa.org Image credit: Thirteen WNET New York, Pinterest
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Lifestyle/Culture
Cuisine of Mozambique: Peri Peri Chicken MOZAMBICAN PERI PERI CHICKEN is often considered to be the national dish of Mozambique. It is crazy hot, spicy and delicious. Of course you can make the sauce to your own heat tolerance but it should burn a bit to be authentic. The African Bird’s Eye is the chili that is used for the peri-peri. It ranks 175,000 on the Scoville scale a bit milder than a habanero or scotch bonnet. Different chilies impart different heat and flavors to the sauce, it is okay to use what you like but if you want total authenticity then you should try to find the African Bird’s Eye. Ingredients • 1 cup peri peri sauce • 1 whole chicken cut into pieces or spatchcocked Skin on • 1 lemon Preparation 1. Wash the poultry with lemon 2. Marinade the chicken pieces or spatchcocked chicken in 3/4 cup peri peri sauce for at least two hours but best overnight. 3. Heat your grill to medium high 4. Grill the chicken until the internal temp reaches 165 degrees 5. Baste with the peri-peri sauce often while grilling 6. Serve with some extra sauce and some chip (fries).
Peri peri in Swahili means pepper-pepper.
Ingredients • 1 cup olive oil • 1/4 cup chopped onions • 1/2 small red pepper • 10 African Birds Eye chili's or whatever type of chilies you like • 1 Tablespoon smoked paprika • 6 garlic cloves • 4 basil leaves optional • 1 Tablespoon Fresh Oregano Optional www.internationalcuisine.com/mozambican-peri-peri• Juice of 1 lemon or two limes chicken/ • 1 teaspoon salt plus more to taste as needed • 1 teaspoon black pepper ground Peri Peri Sauce • 1/4 cup white vinegar white Optional This is the sauce used for the national dish of Peri peri chicken and also used on shrimp. It is Preparation often put on many other food items even cheese. • In a food processor of blender put all of the ingredients in blend until almost smooth. 98
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• Adjust seasonings to taste and refrigerate until ready to use. www.internationalcuisine.com/mozambican-peri-perisauce
Avocado Salad
Mozambican Bolo Polana (Cashew and Potato Cake)
Avocado salad is lovely and light. It is a bit different as it pairs avocado, with tomato and peaches. You will love this The dressing is really good. It is citrusy with lem- unusual cake, it is on but it is the peach syrup along with some herbs not too sweet and that make it truly unique and wonderful.. has a lovely smooth, rich and moist texIngredients ture. It gets its name • Lettuce mixed or any type you like from a suburb of the capital city Maputo • 2 tomatoes cut into slices called “polana”. • 2 peaches cut into slices or use sliced peaches out of a can and you can use the juice for the Ingredients dressing. • 2 avocados cut into bit size pieces • 1 1/2 cups butter • 2 Tablespoons of lemon dressing See Recipe • 1 cup white sugar • 2 teaspoons zest of lemon below • 2 teaspoons zest of orange • 1/4 cup lemon juice fresh squeezed • 9 egg yolks • 1/4 cup olive oil • 5 egg whites • 1/4 cup peach syrup of fruit syrup from the can • 2 medium sized potatoes peeled, cooked and • 1/2 teaspoon salt mashed until smooth • 1 teaspoon fresh herbs tarragon oregano • 2 cups raw unsalted cashew nuts ground in a blender of food processor until smooth chopped finely • 1/8 teaspoon black pepper Preparation Preparation • Preheat oven to 360 degrees • Place the lettuce in a bowl • Butter the bottom and sides of a spring form • Arrange the tomato and peach slices in a circle cake tin • place the avocado in the center. • In a large bowl, cream the butter and sugar • In a jar put all the dressing ingredients and shake until light and creamy well. • Beat in the mashed potatoes, ground cashew • Pour a little nuts, zest of lemon and orange dressing on the • Add in the egg yolks one at a time and blend salad and serve. well. • The rest of the • In a separate bowl, whisk the egg whites until dressing will keep stiff for about a week • Fold the egg whites into the batter in the refrigerator. • Pour the batter into the cake tin • Bake in the oven for one hour or until golden https://www. brown • Remove and let cool before removing from the internationalcuisine. form. com/mozambican• Garnish with a few roasted cashew nuts avocado-salad/ www.internationalcuisine.com/mozambican-bolopolana/ 99
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Trade Shows/Exhibitions/Conferences
Events Around the African Continent and the World 2021 United Nations Climate Change Conference
New Orleans, Louisiana USA www.essencefestival2020.com
1-12 November 2021 Glasgow, United Kingdom https://ukcop26.org
Hotel & Hospitality Show
Africa's Big Seven 21-23 June 2021 Gallagher Convention Centre Johannesburg, South Africa www.africabig7.com/africa-trade-week
Africa Energy Indaba 2-3 March 2021 Cape Town International Convention Centre Cape Town, South Africa www.africaenergyindaba.com
Africa Investment Rountable 15 February 2021 www.airlive.africa
Essence Festival 2021 Summer 2021 Mercedes-Benz Superdome
20-22 June 2021 Gallagher Convention Centre, Johannesburg, South Africa www.thehotelshowafrica.com
IFAT Africa 13 - 15 July 2021 Gallagher Convention Centre Johannesburg, South Africa www.ifat.de/en/trade-fair/ifat-impact/
International Fair of Algiers 14 - 19 June 2021 Palais des Expositions des Pins Maritimes Algiers, Algeria http://safex.dz
South African International Trade Exhibition (SAITEX) 20-22 June 2021 Gallagher Convention Centre, Johannesburg, South Africa www.saitexafrica.com
Mozambique - sunsafaris.com
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African Diaspora Shopping Resources The Nile List www.thenilelist.com
Bold Xchange https://boldxchange.com/
Official Black Wall Street https://officialblackwallstreet.com/
Black Owned Everything www.instagram.com/blackownedeverything/
The Folklore www.thefolklore.com
Jumia Group www.jumia.com www.today.com/tmrw/5-directories-help-you-shop-black-businesses-all-year-round-t207861?cid=referral_ taboolafeed
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Celebrations
African Diaspora Independence Days J R CAMEROON - J . 1, 1960 R HAITI - J . 1, 1804 D R SUDAN - J . 1, 1956 F G GRENADA - F 07, 1974 R T GAMBIA - F . 18, 1965 SAINT LUCIA - F 22, 1979 DOMINICAN REPUBLIC - F . 27, 1844 A R EGYPT - F . 28, 1922 WESTERN SAHARA - F . 28, 1976 M K MOROCCO - M 2, 1956 R GHANA - M 6, 1957 S MAURITIUS - M 12, 1968 R TUNISIA - M 20, 1956 R NAMIBIA - M 21, 1990 A R SENEGAL - A 4, 1960 S N Z MOROCCO (M )-A 7, 1956 R ZIMBABWE - A 18, 1980 MOROCCO (S S Z , M )-A 27, 1958 R SIERRA LEONE - A . 27, 1961 R TOGO - A 27, 1960 M P ' D R ETHIOPIA M 5, 1941 R CUBA - M 20 ,1902 S ERITREA - M 24, 1993 C R GUYANA - M 26, 1966 R SOUTH AFRICA - M 31, 1910 J NIGERIA (B C N )-J 1, 1961 A A ' R V (J )-J 19, 1865 R MOZAMBIQUE - J 25. 1975 D R MADAGASCAR 102
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J 26, 1960 R DJIBOUTI - J 27, 1977 R SEYCHELLES - J 29, 1976 D R CONGO (KINSHASA) - J 30, 1960 MOROCCO (I ) - J 30, 1969 J R BURUNDI - J 1, 1962 R RWANDA - J 1, 1962 D R SOMALIA - J 1, 1960 D P R ALGERIA - J 3, 1962 R CAPE VERDE - J 5, 1975 F I R COMOROS -J 6, 1975 R MALAWI - J 6, 1964 C THE BAHAMAS - J 10, 1973 D R SÃO TOMÉ AND PRINCIPE - J 12, 1975 R LIBERIA - J 26, 1847 A R BENIN - A . 1, 1960 R NIGER - A . 3, 1960 P D R BURKINA FASO - A . 5, 1960 G JAMAICA - A 06, 1962 R CÔTE D'IVOIRE (I C )A . 7, 1960 R CHAD - A . 11, 1960 CENTRAL AFRICAN REPUBLIC - A . 13, 1960 R CONGO (BRAZZAVILLE) A . 15, 1960 R GABON - A . 16, 1960 R TRINIDAD AND TOBAGO - A 31, 1962 S K SWAZILAND - S . 6, 1968 F S C ST. KITTS DAWN
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AND NEVIS - S 19 1983 G BELIZE - S 21, 1981 R MALI - S . 22, 1960 R GUINEA-BISSAU - S . 24, 1973 R BOTSWANA - S . 30, 1966 O CAMEROON (B C S )O . 1, 1961 F R NIGERIA - O . 1, 1960 R GUINEA - O . 2, 1958 K LESOTHO - O . 4, 1966 R UGANDA - O . 9, 1962 R EQUATORIAL GUINEA - O . 12, 1968 R ZAMBIA - O . 24, 1964 G ST. VINCENT AND THE GRENADINES - O 27, 1979 MOROCCO (I Z ,T )O . 29, 1956
N G ANTIGUA AND BARBUDA 01 N 01, 1981 C DOMINICA - N 03, 1978 P ' R ANGOLA - N . 11, 1975 R SURINAME - N 25, 1975 I R MAURITANIA - N . 28, 1960 BARBADOS - N 30, 1966 D U R TANZANIA - D . 9, 1961 R KENYA - D . 12, 1963 LIBYA (S P ' L A J ) - D . 24, 1951 www.thoughtco.com/chronological-list-of-africanindependence-4070467 www.caribbeanelections.com/education/ independence/default.asp
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Agriculture - Business - Commentary Development - Education - Governance History - Investment - Lifestyle/Culture - Technology/Science
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